Some Rules for Coping With Stock-Market Panic

People don’t like being told what to do, and when agitated they really dislike being told to be less agitated. So rather than just tell you not to panic (seriously, DON'T PANIC), I will offer some thoughts about what is going on today, this week and perhaps the next quarter or two. But here's what to keep in mind: Much of this is just guesswork, and it's worth being skeptical of anyone who says they know how this will turn out. Let's start with what we know so far:

Media coverage: There is a lot of information and misinformation in the press and especially online. Even the things the media gets right can be misleading -- see this map published by the Wall Street Journal. All of the various techniques we have discussed over the years apply here: Read trusted sources and avoid clickbait nonsense.