Last week’s introduction to our Weekly Wrap-Up included a passage from Brian McCann’s letter to his investors where he discussed  how important it is to stop wasting time trying to predict the market or the economy and instead do things to be prepared for when markets throw us a curve ball.  His letter paralleled some of the things we talked about in our Weekly Wrap Up sent on May 31, 2020Invest Through Crises Not In Reaction To Them.

Brian’s letter also reminded me that I promised to briefly discuss a concept I introduced in that email called LPM which, in retrospect, should have been called LRM. I’ve aptly changed it to the latter.  LRM stands for investing for the long term, learning risk assessment, and managing life.

Getting your head around these 3 things can help you withstand volatility in your portfolio and market crashes.