I’ve seen this all before. The market drops and the media respond like a swarm of hungry piranha chomping on a big, raw rib eye steak.

“Largest Single Day Drop in History”-“Worst Decline Since Collapse of Lehman Brothers”-“Dow Plunges: Worst Point Decline Ever”

Fear abounds and the perpetual supply of pundits predicts darker days ahead.

Name one correction in the past century that failed to constitute a buying opportunity?

Exactly, the exact number is zero.

Warren Buffet is one of the wealthiest men in the world and, arguably, the pre-eminent investor of the last hundred years or so.

Buffet once said “…the stock market is a device for transferring money from the impatient to the patient.”

In other words, it’s not time to sell, not time to panic; it’s time to turn off your TV.

Don’t let the smart money turn you into a victim.

This is the 32nd time in the last twenty years that US Stocks have declined more than 4% in one day. So, if you were thinking of selling, the evidence would strongly support ignoring that thought.

For the record, I survived the epic crash of 1987, The Gulf War, The Russian Ruble Crisis, The Tech Bubble Bursting, September 11th, The Financial Crisis and raising three teenagers.

Ignore the fools and fiends from Fox, CNBC, Bloomberg and the like. They can wreck your portfolio and ruin your voyage.

When the time comes to rebalance we will let you know.

Be smart, be strong, be patient, and don’t get sucked in, this too shall pass.