Today we thought we'd share a recent article by Dimensional Fund's VP, Jim Parker. It discusses the futility of responding to the “crisis of the day,” because very soon, that crisis will be forgotten as the world’s investor community lurches forward to the next big story that will capture everyone’s eyeballs for a day or a week.
The Brexit was just the most recent example of a crisis that quickly became another footnote, but a far more scary one was the Chinese economic slowdown of exactly a year ago today, on August 24, 2015. The Chinese stock market crashed 8.5% in a single day, and in sympathy, the Dow Jones Industrials lost 1,100 points during the same day. There was some major panic going on! Yet, how many of us have anything more than a vague memory of that even happening? Plus, the Dow today is almost 3,000 points higher than a year ago!
Download the full article here: Outside the Flags_ History on the Run.
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