Image Credit: Fitz Henry Lane, “Lumber Schooners at Evening on Penobscot Bay” (1863), National Gallery of Art via Wikimedia Commons
By Jason Zweig | March 24, 2020 7:00 am ET
Investing, once a necessity, has become a luxury.
“In the 1930s we had the Great Depression, in 2008 we had the start of the Great Recession and now we are facing the Great Cessation,” says John Cammack, a private investor and former executive at T. Rowe Price Group Inc. in Baltimore. The global economic lockdown to combat the spread of coronavirus, he says, is “stopping the many small actions that make up Adma Smith’s marketplace dead in their tracks.”
Yet Twitter and the internet are full of urgings to invest now, on the belief that the economy will eventually recover and stocks will bounce back — as they always have in the long run, at least in the U.S.…
To read the rest of the column:
For further reading:
Benjamin Graham, The Intelligent Investor
Jason Zweig,The Devil’s Financial Dictionary
Jason Zweig, Your Money and Your Brain
Jason Zweig, The Little Book of Safe Money
Articles and other resources:
When the Stock Market Plunges…Will You Be Brave or Will You Cave?