Practical Lessons for Your Financial Life (Collection)

It’s Foolish to Waste a Good Crisis

You have to view each crisis as an opportunity to mature as an investor. It’s up to you to recognize what each learning experience means to you. No one else can tell you how the crisis has affected you or what lessons you can learn.

Not everyone does this. Some investors have an emotional reaction to the crisis. They get upset, they get frustrated, or they feel a lot of stress, and this range of emotions is the extent of their reaction. But they’re wasting the experience; they haven’t discovered the learning opportunity.

Study what you could have done differently and decide what you will do differently next time. The answer might be something as simple as realizing, “I should have paid more attention. I didn’t ...