And I guess when we look back over the past hundred years, what does market history tell us? I

think the key lesson is that markets have never really moved in a straight line.

We've seen wars, we've seen recessions, inflation shocks, crashes and then recovery.

So there's been a lot of challenges over time.

But markets have rewarded long-term patient investors.

Mm-hmm.

Over the short term, however, things can feel quite dramatic.

Okay, so if we look at the key takeaways for people, especially those that are interested in investing or already investing, what would you say to them?

So then how can someone lock in a loss? What

does that mean? So to lock in a loss, markets go up and down all the time.

If markets fall, that loss is generally only on paper while you still continue holding on to the investment.

Imagine a three bedroom house and property prices fall.

You still have the same three bedroom house, right? You actually haven't lost anything unless you decide to sell in that market.

If you decide to sell in that market, you lock in your loss and also you miss the chance of a recovery when prices bounce back.

And investments work very much the same way.

So if we were looking for the practical takeaways for people listening tonight, what would you say they are?