Corrections - Lucky or Smart?

When major markets tumble, and everyone panics, what do you do? Panic too? Or see the opportunity thats available? So often we witness the herd instinct at play, and now more than ever - one would think that people who had the sort of money being 'lost' at the moment would also possess some form of mental ability to think for themselves...so the make believe money is no longer there - perhaps the last 8 years of massive growth was all just a bubble anyway. So now that markets have corrected themselves, what to do? Seize the day? Or go run away and hide in a corner? I'm old enough to remember the last time we went through 'tough' times. I survived, and so did most of the people I worked with at the time. So we had to adjust some things, but this is not necessarily a 'bad' thing is it? Where to shop? What to buy? Corrections like these are normal and I believe necessary to keep some semblance of economic structure. Stick those share certificates in your bottom drawer, and forget they were there - Old Mutual will one day be back at R20-R30 a share - R9 is good value for money, if you have it.

But for the rest of us - those who face harsh reality every day, we could be the lucky and smart ones - Now is the time to get creative, think positive and do those things we've been putting off for a while now - take some risks, step into the space. Thing about a bit of turmoil is that while everyone else is losing their heads, those who stay calm and dont panic can score big. Lucky or Smart? Its a bit of both actually.