Four Lessons from the Financial Markets

September 17, 2008

What lessons should we learn from the mess in the financial markets? Several, I think.

First, as my financial adviser always says, diversify. Never leave your money in one company and a few stocks. Spread it around. When you do, you spread the risk.

Second, don’t panic. While this is a serious adjustment, the markets will come back. They always have. Buy low and sell high is always good advice. There are people who are buying now and will reap the rewards.

Third, forget what the politicians are saying. They helped us get into this mess.

Fourth, the biblical principles concerning wealth and the source of our worship are true. Greed is bad. Living within one’s means is good. Marketers and politicians want you to think that happiness is to be found in money and possessions. Scripture teaches the opposite and deep in our hearts we know the source of true wealth and that is Jesus Christ, not the dollar bill.

Cal Thomas is a nationally syndicated columnist based in Washington, D.C.