the coronavirus, how long we’ll be isolated, or how long our economy will be shut down. There will be bankruptcies, business closures, and economic pain. We could be entering a recession... maybe even a depression. And stocks may take years to hit new highs. But this will not end society as we know it. During the financial crisis of 2008, the banking system nearly collapsed. That created much more risk of ending the current economic regime and starting a new one. This time, the economy will come back... and the stock market will, too. That leads us to our final philosophy for today... PHILOSOPHY NO. 3: BUY STOCKSYOU KNOWAND LOVE The sooner you realize Wall Street won’t take
care of you like you will take care of yourself, the sooner you can build your finances properly. The truth is, Wall Street likes to confuse you. It wants to make you think that earning money in the markets is so challenging that only “experts” at hedge funds and big banks can do it. It wants you to think that if you were to take control of your own finances, you’d be outmatched... you’d be overwhelmed... you’d make mistakes... And you’d end up losing money... We’re here to tell you that making money in the markets isn’t as complicated as Wall Street makes it out to be. You don’t need to be a quantitative trader or have a PhD. And you certainly don’t need to pay hedge funds huge fees to beat the market. At its core, investing is simple: Buy great businesses at reasonable prices and hold for a long time .
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