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Radio Knob
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The First Step in Surviving the Great Bear Market of 2008
On October 10, 2008 the Dow Jones Industry Average futures were down over 700 points and during mid-morning trading it actually crossed over into positive territory. At the end of the day, the DJIA closed down over 400 points. That is a price swing over 1100 points in a single day. The volatility is absolutely historic. It may be hard to look at the bright side of such a swing, but you have to realize we are experiencing historic events.
So will all of the wild price swings and bank failures, what is the best thing to do in the Great Bear market of 2008?
The first thing to do during a bear market is to have a realistic mindset. Don't worry what newspapers are printing or what the television anchors are saying on the 6:00pm news. Remember, the media is in the business to sell newspapers and get nightly viewers.
In fact, a wise man once told me what he did during the 1973-1974 bear market. He said he was so worried about his stock portfolio that had only slept 2-3 hours per night for several weeks. This lack of sleep was affecting his health, his marriage and his day job. In fact, he said he was suffering from "ursaphobia". The term "ursa" is Latin for bear. The definition of a phobia is "to fear something". Put them together and you get Ursaphobia - The Fear of the Bear.
After a heated argument regarding their investments with his wife, he said he went for a drive. During his drive he was listening to the news on the radio. The newscaster was talking about the bad economy and the stock market. He said he reached over to turn up the volume on the radio, but the radio knob fell off. Since he couldn't hear the news he turned off the radio. He said he drove for another ½ hour before returning home.
When he drove into his driveway he said he felt a feeling of peace and calm come over his entire mind and body. After he made up with his wife, he told her about radio experience and the peace he felt. After listening to his story, his wife suggested he stop listening to the radio, reading the newspaper or watching the nightly news for a week and see how he felt.
After a few days he felt great. He said he wasn't stressed out anymore and this experience taught him how to manager stress for the rest of his life. So when the market goes down, (and it will) he says he keeps in contact with his stockbroker a few times a week and doesn't watch television or read the financial newspapers as closely as he did in the past.
So rather than focus on a bunch of numbers, charts and quotes, why not focus on the present and the future.
If you are looking for strategies to bear-proof your portfolio, you can download a free 20 page report entitled: Ursaphobia - The Fear of the Bear at http://www.urasphobia.com
About the Author
Andy LaPointe has over 14 years of experience as a financial planner and registered investment advisor. He is the author of over 9 financial-related books including Money Smart Seniors and Money Smart Teens. Visit www.ursaphobia.com to download free20-page report.
My cars horn won't work nor the buttons for the radio/cd player... whats wrong?
The car is a 2006 Saturn Ion. I changed the fuses for both the horn and the radio but it still won't work. When I press the horn button on the steering wheel the fuse under the hood makes a clicking noise. The radio plays fine. However the buttons don't work at all except the eject, the volume and the tuner knob. Any suggestions on what is wrong?
Check your master fuses under the hood. Its those big black fuses or you're paticular color for your car that makes a clicking noise when bad. Or maybe the fuse is not fully connected. If that dosen't work, try tightening the end of your're battery cables, that should get it. On the horn part, you're horn just maybe gone bad. Try searching online for a recall for your car @ saturn.com/recalls
2010 Mercedes-Benz GL350 BlueTec, an AW Drivers Log:
EXECUTIVE EDITOR ROGER HART: You don't need to spend much time behind the wheel of this thing to realize that it just makes sense for SUVs to have small-displacement turbodiesels under the hood. The 3.0-liter engine easily pulls this 2.
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Radio Knob
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