In this week's Off the Cuff podcast, Chris and Charles discuss:
- The Case for a Coming Crash
- One that could erase the gains of the past 2 decades
- Focus on Resilience, Not Money
- Don't define yourself by your portfolio size
- Post-Crash Investments
- What to buy once the world is 'on sale'
- Emotional Mastery
- A critically important success requirement
In response to Charles' recent argument that the markets are looking increasingly vulnerable, he and Chris explore the possible timing, magnitude, and duration of what a large correction could look like.
Within the conversation, it becomes clear that investors' response to the situation, not necessarily the market developments themselves, will be the biggest determinant between the 'winners' and 'losers'. I'm reminded of the opening line from Rudyard Kipling's "If," which I cited last week:
If you can keep your head when all about you
Are losing theirs…
For starters, those who take a wider measure of their life's merit than simply the size of their bank account will have much less emotional distress to contend with if a vicious correction occurs. This will be doubly true if they position themselves defensively today, choosing safety over the raucous and reckless mania of the liquidity-fueled financial markets.
The prudent should spend time today prioritizing resilience, so that no matter what transpires, the things they value most (secure and productive homestead, family, health, community, etc.) will thrive. And if there are time and additional resources to spare, then use today's relative calm to identify
by kennethpollinger 
