We had an interesting day in the market today. The Dow was off 1175 points though it was just 4.60%. Today is not a day for anxiety. Today is a day to rejoice. The market has given you a gift.

I have seen this so many times over my time in the financial industry. On average since 1982 when I began my career, the Dow has given me 36 times where the market fell 10%. That’s 36 times I was then able to buy stocks with a 10% discount.

The New York Curb Exchange began in 1792. In over 200 years, the market has had corrections, sell offs, and crashes. Each one, without exception, has always resulted in a new high for the market.

The news is good. Employment is up. Industrial production is up. Interest rates are still low by historical standards. Taxes have been cut. Markets don’t go down when these conditions exist.

So when we have corrections like we have now, buy. And buy a lot. Don’t look a gift horse in the mouth.