Scott Private Wealth Group

In Uncertain Times,
It's Good to Look Back

Those who know me well know that I love history.  And, I hope you understand how important history is, not from any powers of predictability because that's certainly a fool's game, but from it's power to give us perspective and something we can relate to because we either lack experience, knowledge, or both regarding the situation at hand.  I believe the main reason this perspective is so hard to come by is due to the bewildering and blinding amount of 24/7 instantaneous news:  CNBC, FOX, CNN, talk radio, newspaper, and magazines (in the millions it seems).  Is it any wonder we don't know what to do?  News is, by its nature, short-term in nature.  What happened yesterday or two hours ago, and how is that going to affect me in the next 10 minutes?

Thinking a little more long-term and looking back over the 22 years since I first entered the financial industry, it's amazing to ponder the resiliency of the American economy and stock market.  Numerous "short-term" events and crises have caused us to question the future and to be fearful time and again.  Please understand, I am not suggesting we not question or be fearful as there is a time for everything.  I am suggesting that we consider carefully our response during crisis situations in light of the historical precedence.  Maybe a walk down memory lane can help us gain that important perspective we need as we consider our future.

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