558 - EMERGENCY UPDATE: 5 Things You NEED to KNOW About Coronavirus & The Stock Market Today

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 10 March 2020

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

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Summary

What the hell happened yesterday? We saw the largest drop in history of the Dow Jones Index. It dropped over 2,000 points, which is more than 7%. So I'm doing an emergency podcast to break down: ⁃ A HISTORY OF MARKET CRASHES - THE MICRO AND MACROECONOMICS OF CORONAVIRUS ⁃ WHY YOU SHOULDN’T BE SCARED OF MARKET CRASHES - WHY THE STOCK MARKET FELL... ⁃ WHAT YOU NEED TO KEEP TRACK OF TO PREDICT THE MARKET IN A PANDEMIC - HOW THIS WILL IMPACT THE ELECTION and more... Also if you like this episode or have more questions tweet me @jaltucher "Carl Allen has nine side hustles. He doesn’t work in any of them. They all just create cashflow for him. He’s been doing this for 27 years. And has done hundreds of deals. Now he’s teaching people how they can do it without investing your own money or having any experience at all. Consider this an introduction to a new, richer life. Listen to episode553 - How to Make Money by Buying an Established, Profitable Business Using null of Your Own Money with Carl Allen And Carl has a new book on this which you can get for 20% off at carlsbook.com/james I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin Instagram

Transcript

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0:00.0	This isn't your average business podcast and he's not your average host.
0:06.6	This is the James Altiger Show on the Choose Yourself Network.
0:12.6	Today on the James Altiger Show.
0:16.4	People are not afraid of coronavirus.
0:18.4	People are afraid of fear.
0:20.0	The stock market doesn't like uncertainty.
0:22.6	The stock market is like a thermometer on the psychology of the world and people get
0:27.8	scared when there's uncertainty.
0:29.6	If we knew for sure, like we do with the flu, how many problems deaths there would be.
0:34.1	Even if it was in the millions, the stock market probably wouldn't have been affected as much.
0:38.6	But just to keep in mind, 250 to 500,000 people a year die of the flu.
0:44.2	Right, but again, that just stays the same and it's horrible too.
0:48.8	But we know, we kind of know that happens in every industry sort of plans for that.
0:53.3	That's why I mean that the uncertainty is the bigger problem than that number of deaths.
0:57.8	I think again, prepare for the worst case scenario or at least think about it.
1:01.5	But I would ignore the stock market.
1:04.6	Don't sell anything.
1:05.6	Again, there's not a recommendation.
1:07.1	This is what I would do.
1:08.5	I wouldn't sell anything.
1:10.3	I'd probably look to start edging into oil, but I'm not recommending anything.
1:15.2	I would also start looking at the India ETFs because certainly India with a billion people
	...

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