This is the hard part

The bad news is the market looks just terrible today, the Dow’s off big after several back to back days of triple digit moves. The small caps are doing what small caps have been doing all year – struggling to maintain their longer-term uptrend, and EM stocks are being unceremoniously dumped in a landfill.

The good news is that everyone is now a completely rational, passive, long-term, calm investor who can see through the volatility and focus on the bigger picture.

At least, that’s what I’ve been told.

I guess we’ll see.

The easy part about committing to a long-term, rational strategy is that most of the time things work in your favor.

The hard part is they don’t always.

This is the hard part.