“When Black Monday happened, the people that had a long enough time frame to wait it out until the recovery were probably fine. In fact, despite Black Monday, the American markets actually finished 1987 in positive territory. But anyone who held long-term investments with a short-term mindset might not have been able to stick around long enough for the recovery.
It’s important to invest in a manner that is consistent with your objectives. If you have a short-term horizon then invest as if a bear market is looming around the corner. Because, sooner or later, one will be.”
