Crimea—Don't Panic, Stay Focused
March 1st 2014 Russia invaded Ukraine for a small area on the coast of the Black Sea called Crimea. As a result the stock market dropped 150 points. Investors, and traders were scared and acted rashly. Then March 2nd came and the market not only went up but by over 200 points. That’s 50 points higher than where the market was February 28th. What happened?
The individuals behind the market saw a potential international crisis and lost focus. They panicked. Many of them lost out on opportunities to get a better return on their investments.
So, how does this relate to you? It’s simple—focus.
Panicking causes us lose focus and when our focus is on the wrong things we make bad decisions. Sometimes we can get lucky but for long term success not only do we need to learn to focus on the right things but to discipline ourselves too keep our focus.