Owen Rascovitch

So we've talked about the options there.

And once again, you can go to CanStar or any of those other comparison sites to learn more about brokerage accounts.

We've got some information we'll put in the show notes too, of course.

One of the things that Warren Buffett says, and this is tying back to our lessons at the beginning of this episode, is that the stock market is a device for transferring money from the impatient to the patient.

So the people that want to get rich quick to the people that are just happy to get rich.

It doesn't matter how long.

And one of the times when this happens, and it's very obvious, is when there's people that are clearly focused on the short term and the money goes to people that are focused on the long term is when there's a market crash.

And that's when prices might fall by 10%, 20%, 30% in a year, maybe even more.

And what happens is the people who are focused, who are really impulsive and don't have that regimented savings plan and investing plan, they'll panic and they'll sell.

And what they're doing is they're selling it the worst possible time because they think this is the worst thing ever.

The world's going to explode.

XYZ country is invading XYZ country, like blah, blah, blah.

There's so many things to think about.

But I found this fascinating when I did a bit of research on this is that

On average, and I think this comes from a Deutsche Bank, so an investment company did this study and they found that the share market corrects on average every 357 days or once a year.

So if you think about that, once a year, you can expect something bad to happen.

Yeah.

Right.

On average, it doesn't happen.

That's right.