Coronavirus Market Crash - Is This Time Different?

Financial Independence Podcast

The Mad Fientist

Taxavoidance, Business, Geographicarbitrage, Investing, Tax, Earlyretirement, Travelhacking, Entrepreneurship, Travel, Personalfinance, Stocks, Minimalism, Realestate, Frugality, Retirement, Financialindependence

4.8 • 1.7K Ratings

🗓️ 16 March 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Bear markets are a normal part of investing but is this time different?

As the coronavirus COVID-19 spreads around the world, governments are struggling to limit the economic impact of the disease.

In today’s unplanned episode of the Financial Independence Podcast, JL Collins (author of The Simple Path to Wealth) joins me to talk about this stock-market crash, how it differs from previous crashes, and what you should do about it.

Note: Apologies for the audio quality of this episode. Since this wasn’t planned in advance, I didn’t have my normal microphone so I had to use the microphone on my iPhone headphones :/

Transcript

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0:00.0	I'm blind to give you a true finance.
0:05.0	Hey what's up everybody, it's the mad scientist.
0:07.5	Welcome to the Financial Independence Podcast,
0:09.6	the podcast where I get inside the brains of the best and brightest in personal finance to find out how they achieved financial independence.
0:15.0	I'm not doing that today though because I've already had this guest on twice before.
0:19.0	The first time, way back in October of 2012, and then the second time was June of 2016 so this is his
0:27.0	four-year invite back onto the show it is none other than J.L. Collins himself.
0:32.8	Welcome.
0:33.4	Thank you, Brandon.
0:34.4	It's an honor to be here.
0:36.4	I'm, well, sorry that it took a bare market to make it happen,
0:41.8	but it's always a pleasure to talk to you.
0:44.2	You know what, we've been doing this for a while, so my blog started way back in early 2012.
0:49.6	I think yours was way back in 2011, and to be honest honest I'm surprised it took this long to
0:55.2	experience a crash like we're experiencing now is it the same for you?
0:59.9	Yeah I would say exactly you know know, we had obviously the, before I started my blog in 2011, as you point out,
1:07.4	and a few years before that we had the big meltdown in 07-08.
1:11.6	And since then, the market markets done almost nothing but relentlessly go up with a
1:17.0	couple of 10% corrections scattered over the years and in December of 2018 there was a bare market bear markets are
1:28.7	technically defined as a 20% plus drop that happened right around Christmas but it recovered so quickly that I don't
1:37.7	think most people even remember it but other than that this is the one everybody's been expecting or should have been expecting.
1:45.6	But I don't think anyone would have predicted how it actually came about with the
	...

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