Controlling Reactions (#154)
Apparently, the past few weeks have been a roller coaster ride for global stock markets, with volatile trading and daily swings of several percentage points. I hadn’t really paid much attention to these events, but that would have been a different story ten years ago. I developed an interest in the stock market at an early age, influenced by my grandmother who was an enthusiastic, but notoriously poor stock picker. I started trading and following the markets regularly in college and would get excited by the highs and anxious when the market declined. I distinctly remember during the 2007 market crash being glued to the TV and feeling physically ill as the market dropped 800 points in just a few days in September. I allowed it to negatively affect my work, my mindset and my interactions with others. Shortly after, I made the decision to stop watching the market and shifted my investments to mutual funds. Later, I hired an investment advisor to make those decision for me without any emotion or short-term bias. It was one of the best decisions I have made. The stock market hasn’t changed, but my reaction to it has. The same goes for sports. As a lifelong Boston sports fan, I’ve experienced both improbable victories and agonizing defeats (most of my childhood). Today, I enjoy the games and may get animated watching them, but I’ve trained myself to mentally walk away the minute they’re over.…
