I’m certainly not panicking. I haven’t even checked my balances. That’s not because I’m so smart. It’s because, when it comes to financial markets, I’m pretty dumb.
I assume I lost money, but what should I do about it? Should I get out of the market now? It’s too late to get the money back, and if it rebounds tomorrow then getting out now will just lock in my losses. I haven’t got a clue what to do.
More importantly, there are lots of people who know more than I do about the market, including people who trade actively all day, every day, for a living, and they have a lot more invested than I do. In order to figure out the winning move in the market, I’d have to figure out what the market will do, and that means figuring out what all those smart people will do. And then beating them at it.
That doesn’t seem like a very realistic plan.
Doing something is no more likely to succeed than doing nothing, and doing nothing costs less and takes less time. And if I want to spend my time and money trying to improve my financial situation, I’m better off spending it on something I know a lot about, like training myself in new software development skills.