Welcome back to Vertex Insights. Today is Thursday, June 23. I would like to begin this update by reading a quote from the book Indistractable by Nir Ayal.
Ayal writes, "As is the case with all human behavior. Distraction is just another way our brains attempt to deal with pain. If we accept this fact, it makes sense that the only way to handle distraction is by learning to handle discomfort."
Investors are no doubt dealing with discomfort right now, as the major market indexes have most recently slid into a bear market. Bear markets are not comfortable for many investors. However, seasoned investors know that bear markets are part of the overall investment cycle. So what can we do?
First thing we can manage are distractions. Stay away from news programs, cable news, financial media, that continue to play into the fear, uncertainty, and doubt narratives. Major media platforms are driven by revenues and ad purchases. The more eyeballs they can get, the more money they will make.
So, it's no doubt that they are going to be pumping fear, uncertainty, and doubt at all levels to maximize viewership right now.
Secondly, review your plan. Review your investment allocation. If you need to, reach out to our team or whoever you work with as a financial advisor. Make sure you are doing what is necessary to make sure that you have peace of mind.
Lastly, avoid anyone who attempts to use your fear to manipulate you into buying a financial product. There is no perfect investment. There is no investment or platform or program or insurance product that will save you if we experience economic armageddon. Many of these advisors come out of the woodwork when times get tough and times get difficult because they want to scare people and manipulate people's emotions into purchasing products that they don't need.
Those are the three things I would say. Manage your distractions. Review your plan, and steer clear of anyone who wants to manipulate you into a knee jerk purchase or transaction. Have a great day.
Michael Baker and Ross Marynell are investment advisor representatives of Advisory Alpha LLC, an SEC registered investment advisor. All opinions expressed by Michael and Ross or their guests are solely their own opinions and do not reflect the opinions of Advisory Alpha. This recording is for informational purposes only and should not be relied upon for investment decisions. All third party ratings are date stamped at the time the rating was given ratings that are dated prior to January 1 2022 may not reflect the current offerings or services of the financial advisor and should be disregarded if found inaccurate. amazon.com allows the issuance of ratings in the ordinary course of business through the use of this site. No compensation was provided directly or indirectly by the advisor in connection with obtaining or using the third party rating.