154: Bear Market Action Plan

White Coat Investor Podcast

Dr. Jim Dahle of the White Coat Investor

Medicine, Health & Fitness, Business, Investing

4.9 • 2.3K Ratings

🗓️ 16 April 2020

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

You are going to face many bear markets in your investing career. Having an action plan to survive a bear market is critical. I go over an important list of things to do in a bear market and things to not do in a bear market in this episode. Things like don't sell at the lows, stay the course, following your investing plan, and have a cash reserve on hand. You want to be a long term stock market investor. You don't need this money next month, next year, or even in the next decade. Don't act like you do. All bear markets come to an end and stocks recover eventually. In some respects, this one is a little bit different from other bear markets in that it involves a pandemic. I have a little bit of advice for you specific to this bear market as well in this episode. Your mortality may be a little higher, your income a little lower, and you have more time on your hands. I address what to do for all of those things as well. I think this show will be helpful to you right now. Soon we will be out of this. Maybe it is next month, maybe it is three years from now. I don't know, but this too shall pass.

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Transcript

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0:00.0	This is the White Code Investor Podcast, where we help those who wear the White Code get a fair shake on Wall Street.
0:06.0	We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011.
0:12.0	Here is your host, Dr. Jim Dolly.
0:18.0	Welcome to White Code Investor Podcast number 154, Life in a Bear Market.
0:23.0	You've built a career in providing quality patient care where it's needed most,
0:27.0	and low-income tenants can connect you with opportunities to help the nation's hospitals through this crisis.
0:32.0	Not sure where to start?
0:33.0	Locomestory.com is the place where you can get real unbiased answers.
0:37.0	From basic questions like what is low-income tenants to more complex questions about pay ranges, taxes, various specialties,
0:43.0	and how low-income tenants works for PAs and NPs, go to low-incomestory.com and get the answers.
0:49.0	Welcome back to the White Code Investor Podcast.
0:52.0	Today, as we record this, it's April 8th, and we expect this podcast to go live in about a week on the 16th of this month.
1:00.0	So we're excited to be back recording.
1:02.0	We're recording this one today, and we're recording next week's today, as we often do batch these podcasts.
1:07.0	I'm going to talk a little bit more about that in a few minutes.
1:10.0	But first, let's do the quote of the day.
1:12.0	This one comes from John C. Bogel.
1:14.0	If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
1:19.0	And I think that has been demonstrated quite well the last few weeks if you hadn't noticed with your portfolio.
1:25.0	Thanks so much for what you do.
1:27.0	Particularly thanks for those of you on the front lines.
1:30.0	You know, it's been very interesting for me. I keep getting all these thank yous.
	...

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