Lessons from Wall Street for Main Street
In the investment world, experts caution investors to remain focused on their own goals. Don’t get elated after a good week, they say, or crushed when the market has a bad week. Don’t dwell on negative news.
Here are some specific comments:
“Turn off the news and ignore the economic naysayers.”
“Hearing a lot of bad economic news? Ignore it.”
“Individual investors would generally be advised to ignore short-term ups and downs and focus on long-term strategy.”
“Investors advised to ignore currency volatility.”
“Wall Street gyrations got you down? Ignore them.”
Or how about, “Control the controllable, ignore the rest.”
In our businesses, whether cabinet shops, millwork producers, furniture manufacturers or media companies, it’s easy to focus on the negative.
And there are always negatives in the news. Part of it is the nature of the news cycle. Bad things that happen, or may happen, are always news. Good things may not even be mentioned.
I’ve talked to many in woodworking who have said that they simply turn off the television to avoid the bad news.
So, don’t listen to all the negative news, don’t look at the man behind the curtain, and have a great holiday season.
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