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so people don't like volatility the way they think of volatility is that when the market's up it's good and when the market's down it's volatile which is wrong because there's upside volatility and downside volatility and you really don't get a big up a lot market without volatility it's just volatility you like and don't think of as volatility and because of that you find yourself if you want those big long-term returns having to be subject to the volatility that comes that's the kind you don't like and for most people that's not very pleasant and the reality is for some people that's a lot more unpleasant than for others some of us seem to have been imbued for some reason with just an iron gut on volatility and in theory you should have the view that if you get volatility the downside the unpleasant kind you should like stocks more i mean stocks are one of the rare categories where when stocks are up people like it when they're down they don't like it but when they're down they're cheaper so you'd think you'd like it more looking forward but people don't uh i've had people tell me all kinds of things that they do to cope with volatility from sucking their thumb to drinking alcohol to going out and taking a walk to or other forms of exercise and uh i've hear from people that they can't sleep at night because of volatility i i i can't really tell you how to sleep at night that's not really my wheelhouse but i want you to think about this uh in this way and i think this is this is an example that i've used for years think of a civil war battlefield general the night before going into battle do you want him staying up awake unable to sleep for fear of what will happen tomorrow in a crisis time or do you want him to be able somehow some way to get a good night's sleep so that the next day he's in good shape for all the chaos that will occur bladder of course is the preferable modality and a good general in that circumstance should be able to be at peak performance on the day of that civil war battle in some respects that's a little bit like market volatility and if volatility really rattles you so much that you can't handle it this is and this is going to sound like i'm making a commercial but i'm not making a commercial the reason for you to get somebody else to take care of it for you and then don't look at it you really if volatility bothers you don't need to look at your portfolio very often you don't need to read the news about what did the stock market do today you don't need to pay attention to all the shrill yak yak yak because when the market falls you'll see most pundits saying it's going to fall further you don't need to listen to that you either are someone who volatility doesn't bother much or if it bothers you a lot get somebody else to handle your investments for you don't look at them very often maybe twice a year and just let it go spend your life focused on other things and don't make your investments a top of mind activity for your daily life thank you very much you
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