Before I start getting into the nitty gritty I just want to address where we are at in the stock market. Stocks took a fat dookie this morning because of the Modelovirus out in China.
This is what we like to call an event. Stocks have been a god damn money machine for the past 18 months so everyone is kinda on edge about the crash. If you own companies, the most important thing to ask yourself is, “has the long term outlook of my company actually changed?” It probably hasn’t… unless this becomes a full on plague, I doubt this is really going to affect the bottom line of most companies 3 years from now.
People on Wall Street have more mood swings than an angsty teenage girl. Either the god damn word is on fire or nothing can go wrong.
My recommendation is to stop checking the markets unless you are shopping for a new stock. Some companies may have gone on sale today but keep in mind that everything is still trading above fair value for the most part.
Crush up a Xanax in your coffee this morning, and just chill out.