A good friend of mine in Perth is a very astute investor worth many millions of dollars. He recently told me that the Covid Scare was probably a once in a lifetime event. The steep decline of stocks around the world was the knee jerk reaction to this unique event. He was busy buying then, and most were selling! His ability to Think Differently and Never Follow the Crowd can make the difference between making or losing money in the market. He thinks that there is still a lot of Value in Share Investment right now, due to the current global uncertainty. When everyone is predicting doom and gloom, he is optimistic. He believes that the uncertainty will not last forever if you take a long enough time horizon. But he is prepared to see his investments drop before they increase in price, as nobody can predict the bottom of the market, it is like trying to catch a falling knife. (This is Lesson No 4, Do not be a Follower, Think Differently from Everyone Else)
