I get it, the sky is falling. Everybody is freaking out ahead of the Fed meeting next week. Opposing sides are tussling, throwing their weight back and forth. The market upheaval has us all a bit starry eyed. Whenever I see a selloff like this unfold I can’t help but look at it a little differently from most people. See, where most people cower and run away from the market volatility, I embrace it.
Maybe it’s because I worked as a Financial Advisor in a bank during the Great Recession. You want to talk about being at the epicenter of the financial crisis? The bank felt more like a morgue. I distinctly remember bank customers coming in and adding beneficiaries to their accounts so they could get more FDIC coverage and, in many cases, customers cashing out their entire life savings and taking hundreds of thousands of dollars in hard currency home with them.
I also distinctly remember screaming from the mountain tops about how great of a buying opportunity it would ultimately be. How they could invest in anything, I mean anything, and do better than they’d do in their savings accounts. And you know what, I was right as rain.