This Week in History

On April 28th, 1944, 750 US soldiers perish while practicing for the D-Day invasion of Normandy during Exercise Tiger at Slapton Sands, England.

     ​U-boats preyed on sluggish landing ships, and support between the Army and Navy proved spotty. The tragedy highlighted many issues that needed fixing before the actual invasion could take place. But even the final plan is far from perfect. Indeed, constant practice and small-unit tactics eventually penetrated Hitler’s Atlantic Wall long after the original plan was abandoned out of necessity. As General Eisenhower, Supreme Chief Allied Expeditionary Force was fond of saying, “In preparing for battle, I have always found that plans are useless, but planning is indispensable.”

     As we potentially head toward correction territory in most major market indices (including bonds!), it is a great opportunity to “battle test” your own plans. If markets continue their downward trend, are you prepared financially and mentally? Use what so far is a moderate correction to stress test your portfolio. What will it look like in a stock market that is down twice as much? Three times? What will you see if interest rates rise more than they already have? How prepared are you for 3% inflation? If you aren’t ready for what your portfolio might look like, then it's time to act. Adjust your tactics and fine-tune your strategy. Don’t ditch a good plan; be ready for what comes next. It’s always preferable to be the predator than the prey.