Part 4/7:
When faced with grey swan events, Fitzgerald emphasizes the importance of maintaining a seasoned approach to investing. He advises investors to focus on well-established companies with strong management, noting that history offers many precedents where companies not only weathered storms but also emerged stronger.
He urges investors to adopt a long-term perspective, drawing parallels to historical events that seemed harrowing in the moment but eventually concluded. Reminiscing about World War II documentaries, he reminds us that while audiences know the war’s end, those living through it faced significant uncertainty. This historical knowledge is a valuable reminder for investors navigating current challenges, as maintaining a calm and strategic mindset can lead to better decision-making.