My First Million The Market Is Crashing. Here’s What We’re Doing About It…
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Aug 9, 2024 The hosts dive into the recent market dip, discussing their strategies to navigate through the uncertainty. They highlight the Olympics, celebrating the inspiring journeys of female athletes and refugees while critiquing the judging standards in gymnastics. A riveting underdog victory in the 1500-meter race showcases the thrill of unpredictability in sports. They also touch on innovative business models, like a $75 billion uniform rental empire, emphasizing the balance between ambition and family dynamics in entrepreneurship.
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Reacting to Market Crashes
- Assess if a market crash poses an existential threat.
- If not, avoid reacting for 30-90 days and reassess.
Staying Focused
- Focus on a few key goals and consistently work towards them.
- Write down your top three shifts and track daily actions aligned with those shifts.
Past Investment Mistakes
- Shaan Puri and Sam Parr discuss past investment mistakes due to reacting emotionally versus responding logically.
- Shaan followed his cousin's "hot tip" during a bull market and went to cash, then made further poor decisions during COVID.