Rather than a time to give thanks, this year’s holiday may be more of a time to step back from the market, take a deep breath, and ask what smart moves can be made.
In that sense, there’s plenty to be thankful for. Some wonderful businesses are on sale. If your time frame is longer than a week and you don’t mind some volatility, then dark news and lower prices are good, not bad. If some of those businesses are ones you already happen to own, then remember the wise words of Bill Miller at Legg Mason: “Lowest average cost wins.”
Or, forget about the market altogether and just have a warm, glowing, fulfilling time with your family, and be thankful to live in a great country, to be healthy, to have turkey to eat and people to love.
Happy Thanksgiving!
