The famous Mike Tyson guide to investing goes as follows:
“Everyone has a plan until they get punched in the mouth.”
~Mike Tyson…before his fight with Evander Holyfield circa 1997~
Think, for a moment, how a Mike Tyson’s guide to investing can be easily applied to all of us as investors.
We start with a strategy/plan, put it to work and hope it works out.
But what happens when your investment strategy gets “punched in the mouth?”
Do you change plans?
Holyfield had a plan before he fought Tyson. But did his plan include getting half of his ear bitten off?
He beat Tyson, but if he blindly followed his plan would he have survived?
I doubt it.
The lesson here is, “How do you adapt when your investments get “punched in the mouth?”
If your plan is solid, it should survive.
You may have to adapt with a swollen eye and bloody mouth (or half an ear). But if your legs and arms are working, keep moving.
Radical market moves can overwhelm you. So, your plan must deal with “right now” reality.
Mike Tyson’s Guide
You’ll need to make decisions or get punched in the face again.
And just like a championship fighter, the markets show no mercy.
Tyson and Holyfield both had a plan. Holyfield adapted to something he never expected to happen and he went on to win the fight.
So, how do you adapt to unexpected events in the market?
Find out in our February issue of “…In Plain English (HERE).
And based on some of the developments we’re seeing now, don’t be surprised if February delivers a few “punches to the mouth.”
Share this with a friend…even if they don’t care who Mike Tyson is.
They’ll thank YOU later.
And tell them:
We’re Not Just About Finance…but we use finance to give you hope.
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