Jason Zweig

speaker

906 appearances 17 recordings 1 series first heard Jan 2018 last heard Sep 2022

Jason Zweig’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Coronavirus: The Effect on Your 401(k)...and Your Mind · 20 Mar 2020 podcast

You're basically prepared for fight or flight. matched

at all times and that makes it very difficult to focus on longer-term decisions, to take in multiple sources of information and evaluate their accuracy and reliability, and also to plan with the full context of your decisions in mind. matched

Absolutely. matched

At a time like this, people are much more inclined to make impulsive, big, sweeping decisions like, I'm getting out of the stock market now. matched

Or there also are people who are out there buying stocks as impulsively as other people might be selling them. matched

And it's really important at a time like this to take measured, slow, gradual, incremental steps that don't put you in a position of having made a decision you can't reverse. matched

That's very true. matched

And I think it's also important for everyone to bear in mind that like all crises in the financial markets, this one combines what's going on in the stock and bond markets with what's going on in our own private lives. matched

But it does so even more than usual. matched

I mean, in 2008 and 2009, people in certain industries were hit really hard. matched

financial industry, housing industry, and anything related to real estate like construction. matched

But in this case, small and medium-sized businesses all across the country are likely to have to lay people off. matched

There could be millions of people either thrown out of work or put on furlough. matched

And this is just not a time to add intense financial risk to the risk your livelihood may already be facing. matched

The single most important thing to do is to take actions that restore your sense of having some control over the situation. matched

What makes what's going on right now so scary to so many people is that it's incredibly uncontrollable. matched

I mean, it's a virus. matched

We can't see it. matched

Millions of people may be carrying it without even knowing it. matched

We could have members in our own families who are sick and we don't even know it yet. matched

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