Lou Whiteman

But as an investor, I think you nailed the biggest concern.

We've talked a lot, Travis, about the consumer isn't one person.

It's just a critical mass of people who are able to get by, keep going with their routine.

That's enough to keep the economy going.

I don't think what's happening in the Middle East in and of itself can make a good economy a bad economy.

But if it is that proverbial straw that breaks the camel's back, that just fewer and fewer people can continue on with whatever they're spending, they're eating out, I think that's very possible.

And that could be just that final push in what has already been sort of an elevated market.

I think that as an investor, that is the exact concern right now.

First off, I think it's important to say that the most important thing to me is the moves you don't make.

The biggest thing to do is not panic sell, something like this, because inevitably, you sell at the bottom and buy back after.

I honestly think that sitting on your hands is an okay solution.

As much fun as it is to brag about buying at the lows if you're at your cocktail parties, and it's great if you see opportunities, go ahead and do that.

But the biggest, most important thing for long-term wealth creation is to avoid panic

selling.

As of buying, valuations were sky-high coming in.

I don't really see anything that you couldn't have bought three months ago almost, or they don't have new baggage attached to them like some of these SaaS plays.

I am pretty content to just keep an eye out and not really commit.

I've bought a couple of things just on valuation, but I think doing nothing is okay here.

Yeah.

First of all, three cheers for low expectations.