Terry Storch Dispatch w.10.2020
Dispatch w.10.2020
I have not failed. I've just found 10,000 ways that won't work. —Thomas Edison
The past few weeks have been crazy in the stock market. Last week, the global stocks fell for seven trading sessions in a row. It was the worst week since the 2008 financial crisis. It seems investors and the market in general are completely on edge as the Coronavirus continues to spread outside of China.
A few things for all of us to remember...what goes up, always comes down. The market historically rides waves, goes up, pulls back, and has a fairly typical trend up and to the right over the long term. Short-term thinking will always get investors into trouble. So, while the past few weeks have really hammered some stocks, retirement portfolios, and 529 college funds, be smart and don’t panic!
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. —Warren Buffett
The stock market is a device to transfer money from the impatient to the patient. —Warren Buffett
I love those thoughts from Buffett, and it doesn’t surprise me that Google Trends is showing more Buffett tweets because of this big downturn.
Here’s more great information from Bloomberg: Last week's market meltdown in five charts.
And when it comes to charts and thoughts, this was perfect!
Credit: Titan Research
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"Leadership: The Hardest Thing" is one of my favorite reads from this week. There are so many hard aspects of leadership! While this principle may have slipped your mind and not even make your list, it transcends leadership in the workplace and applies to every area of our lives. Jump into this Wally Brock article, and let me know your thoughts. Read now.
Resilience is a skill that’s just as important as tech know-how according to a strategy+business article. And you know what, I absolutely agree! In my book recommendations this year, I highlighted two books that are all about this topic: Hope Rising and Resilience. Dive in to this great article for so many great thoughts and insights. Read now.
Resilience is part of an arsenal of skills that can help people overcome significant challenges.
This past week I was meeting with a friend and mentee, and I asked him to write down this phrase based on our discussion: I am overwhelmed by my blessings. Then, I asked him to underline the words overwhelmed and blessings. First, we must recognize the feelings that we have and how they are impacting us. The reality is that he’s living in the midst of his blessings. This helps frame our mindset and get a good view of reality. Next, we need to transform "overwhelmed" into a different word. How? Well, that takes intentionality and action. When we are living in abundance and blessing, that can often mean a lot to juggle. So many good things make it hard to see what’s best. We must prioritize, create order, and live with intentionality every moment of the day. Shift the language to this phrase, “I am blessed by my blessings, and therefore, I will be a blessing.” (Seth has a great read on this topic: "Overwhelmed is a choice.")
March Book Recommendations.
Resilience: Hard-Won Wisdom for Living a Better Life by Eric Greitens
I absolutely loved this book! I listened to this on Audible just about every day last week on my commute as well as during any spare time. This book is unique in that it’s a collection of letters that Eric wrote to a fellow Navy SEAL comrade, Zach, who’d been struggling with PTSD and in a rough spot in life. Those letters to Zach were personal and touching and had so much good wisdom for us to learn. I believe a book like this should be required reading for all teenagers. Grit, perseverance, and pursuit of purpose do the soul good.
Falling Upward: A Spirituality for the Two Halves of Life by Richard Rohr
I think I’ve read this book three times now, so that should say something about my passion for it and its topic. This book isn’t for everyone. I don’t think I’d recommend this book for anyone under the age of 35, maybe even 40. When you get in to the content, we do learn the halves of our lives aren’t directly connected to age. It’s still best for a forty year old. Pick this book up because it will transform your thinking and change your life!
Books I’ve read with my daughters
Here are a few of my thoughts and writings from the week. You can see them all here, subscribe to the daily RSS feed, or you can have them sent to your inbox.