At a recent meeting with a client, I was asked if I noticed that she lost $20k. I asked what she was looking at, she said her February statement. My next comment to her was, ”I didn’t sell anything, did you?” My explanation for this comment was, her market value went down because the markets had a bad month in February. We did not sell anything, therefore, nothing has been lost. True, her market value went down, but also true was that by the time of our meeting, her value was back up $10k.
As we always say, “We are not trying to time the markets. It is time in the markets that matter.”