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Saturday, November 22, 2008

Coping with Market Induced Stress and Depression

Seeing your life savings that you put into the stock markets cut in half or more is stressful. It can also be very depressing. Anonymous asked on another forum:
Does anyone have any suggestion as to where I could go to talk to someone. I'm not feeling well about my losses these days. This was money I had planned to use for kid's college. I am also having really depressing thoughts. Is there any support groups for this sort of thing.
Here is my answer:

#1. It is only money. Your family and health are the most important things. Put them first.

#2 You can always make more money, spend less, downsize your standard of living, or whatever it takes.

#3 You are not alone. I don't know anyone who feels good about what happened. Most of the bears I know were gold bugs so they are down over 30% in a very short time also.

#4 Talk to your family doctor. Death in the family or major losses like we've seen might be a good time for a mild anti depressant while you seek help. I know people who took meds for far smaller losses so this is nothing to be ashamed of.

#5 EXERCISE! I feel great now after a hard workout at my club. I try to do 30 minutes minimum each day on my treadmill if I don't ride my bike for an hour, windsurf or go to my health club. Exercise is the best drug therapy there is. Make sure you talk to your doctor first if you are not in shape!

#6 Contact your county mental health hotline. Click the link and put your zip code in the search box and it should give you numbers to call.

#7 If you are a person of faith, your local lama, priest, rabbi, minister,cleric, etc. is there for you as well as members of the communities they serve.

#8 Find something to laugh about, even if it is our own stupidity to believe the markets and economy were too strong to fall over 50%. Laughter is the best medicine. If you need some help, read Buy a Toaster and Get a Free Bank!"

Finally, let us know how you are doing. People care, even if you are just a stranger, We are all passengers on this planet together as it travels through space and time.

Kirk Lindstrom's Investment Letter Performance

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