Stay Calm Amid Market Turmoil

Take time out to meditate the next time the stock market takes a sickening plunge, say the authors of The Mindful Investor.

That would be the recommendation of certified financial planner Graham Byron and meditation coach Maria Gonzalez, who recently published the book. Its subtitle claims that by maintaining a calm mind, you can obtain both inner peace and financial security. The book was conceived after Byron noticed how mindfulness and equanimity helped his clients when the market crashed. The authors advocate accepting things you can’t control, such as stock prices or interest rates. However it doesn’t mean they recommend a passive indifference to investment portfolios. It simply means that failure to keep a calm mind when financial markets are plunging may lead to making wrong decisions, like selling at the bottom, crystallizing what might otherwise have been only temporary paper losses. The authors say another way of staying calm about money is to reorder your priorities, keeping money in perspective. The authors suggest the following order: 1. spiritual and mental health; 2. physical health; 3. time; 4. helping others; 5. Money.

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