You’re driving south on I-5, doing a respectable 70 miles an hour in the left lane. Without warning, a red convertible shows up in your rear view. Its high beams flash twice. Before you can check for an open lane to move over, they shift gears, fill your blind spot then blow past going 95. You mutter something unfit for church as the taillights race out of view.

A few minutes pass. Suddenly, the convertible is back in view. It’s parked on the shoulder, and a CHP Dodge Charger is parked behind it, blue and red lights still spinning. “Busted,” you think, as a satisfied feeling known as Schadenfreude washes over you.

In German, Schadenfreude means “to take pleasure in another’s misfortune”. Although not a positive or gracious feeling, you can probably think of several occasions you’ve felt it.

Many doomsday prophets have been incorrectly calling for a market crash for 10+ years. Unfortunately, a poor track record rarely stops a fortuneteller from showing up to work.

This year, the doomsdayers have scored a few points. Many stock and asset prices are down from all-time highs. Predictably, they’re beating their chest and warning us to take cover for what’s next. It’s Schadenfreude behavior at its finest.

They know that when markets drop (like in 2022) any short-term “alternative solution” looks tempting to the average investor. Even (and especially) if it’s a lousy one for the long run.

Don’t fall for it.

Emotions are terrible investors. Don’t let anyone scare you into a product or out of your plan.

Investing can often feel like traffic, it’s tempting to jump into the lane that looks like it’s moving faster. But as we’ve all experienced, traffic eventually clears up, so it’s often best to stay patient in our own lane and enjoy the ride.