That’s a line from the iconic 1964 movie “Goldfinger.”
My work of shepherding the assets of others requires me to watch financial networks, like CNBC, Bloomberg, etc. During a crisis, such as the Russian invasion of Ukraine, it is tempting to take advantage of CNN’s superior international coverage, but I don’t recommend that. That just encourages hysteria. Stay focused!
At this hour, it looks like the Dow will lose about 800 points at the open. Big deal – that’s barely 2%. This is NOT the end of the world! The Russian stock exchange is dropping a whopping 30%! The dollar is soaring, while the Russian ruble is tanking. It is often joked that Russian doesn’t have an economy, because it is just a gas station. It will take more than $100/bbl oil to build a real economy. Can the Russian people really afford this war? No!
The U.S. stock market is not dying . . . it’s holding a sale!
The Russian stock market . . . R.I.P. ?
If you just want to worry, then worry about China taking this opportunity to seize Taiwan . . . dropping the U.S. stock market another thousand points or so.