How To Go The Distance With Mr. Market
– Benjamin Graham
Feeling a bit beat up by the market?
You’re not alone. Investors around the world, including pension funds, sovereign investment funds, and countless individuals like you and me have been hit hard over the past year and a half.
And it’s Mr. Market doing the beating.
Now the real question is this: Will you get up and go the distance with him?
Getting pulled apart at both ends
There are two things standing between you and a victory over Mr. Market: Your head and your money.
The first is the battle of emotions within. It’s hard to keep buying value stocks after they’ve been pummeled into the ground, but it’s the best time to buy them.
If you want to beat Mr. Market, you need to get your head on straight — now. Not when everything looks rosy, not when you are sure you can win, but now, when everything looks hopeless and the blood is dripping from that fresh wound over your eye.
Stand up and start hitting back.
Keep buying things when they’re cheap, which is now. Look for the best deals abroad. Learn everything you can about investing. And keep on fighting.
But there may be something else holding you down to the mat. Your income or even your job may have gone down for the count. If so, you might have no other choice but to sell today. But do anything you can to get back up again, and get back in the ring. If you do, and you hit Mr. Market in all the right places, you’re going to end up a very happy and gloating person, towering over the remains of Mr. Market.
If you’re lucky enough to still be making what you were in years past, cut out as many expenses as you can and use the difference to get back in the ring. Save now, because the fight has just started.
You won’t have the chance to knock Mr. Market down forever. Do it while he thinks he’s the strong one.
Over to you: Are you using this chance to fight back at Mr. Market, or are you rolling over and playing dead?