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I’ve written a lot about how having a solid wealth plan in place is the key to coming out of a bear market in the best possible condition. But having a wealth plan isn’t enough if you don’t also have the patience and discipline to execute on the plan – especially when your survival instincts are being bombarded by the media.

In case you missed it, there was a…how do I put this…kerfuffle between Andrew Ross Sorkin and Joe Kernen on CNBC this morning. I had to watch it like three times.

But it really caught my attention starting at the 2:35 mark, where Joe starts to defend himself by saying he was trying to help investors not panic. It was one of the very few times I felt like CNBC (really Joe) was trying to articulate the benefits of investors “keep[ing] their cool, keep[ing] their heads” and then said, “as it turns out, that’s what they should have done.”

Sad…someone was trying to make a lucid point about the benefits of patience and discipline, and it was drowned out by divisive banter that reminded me of a “I know you are, but what am I?” exchange. Two guys making two different points yelling at each other until one calls the other a shill for the President.


But people still listen.

Well, they selectively listen…usually for the sound bites that validate their biases one way or the other (for example a bull or bear market case).

I’m biased, too, though. I’m biased by my optimism and by history. In the absence of a crystal ball, history and some general probabilities are the best guides for looking forward…and they drive a big part of my optimism.

But rather than try to keep writing or talking about the history of bear markets and recoveries…I’m just gonna show you. Thanks to Invesco (@InvescoUS). Green = GOOD…Red = BAD

S&P 500 Historical Performance During Bull and Bear Markets

As a sign-off, thank you for reading—I really mean that. And thank you for thinking enough of our work to be subscribed. At a Team meeting today, I learned that our “Off the Wall” Blog subscription rate is up over 100% year-to-date versus the same period in 2019. Wow. That’s happening because people like you are sharing our work and encouraging others to tune in.

Thank you.

But also, a huge thanks to the Monument Team that works behind the scenes to make this blog work–I appreciate it. I feel a tiny bit asshole-y for taking this long to thank them here, but our digital presence wouldn’t exist without “The Brittanys”. Brittany Dewberry and Brittany Gabel do all the work after I save a basic Word doc in SharePoint. Love you guys in a completely HR-appropriate way—for a ton of reasons, but particularly because you never reply to me with #OKGenXer.

If you haven’t visited our social media pages, be sure to do that. There has been a complete “step up” in our game there and you’ll find some fun personality there too. Links here:

Keep looking forward,



What’s Next?

I’m biased by my optimism and by history

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Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Wealth Management), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.

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