More great Money advice
The myth of the market crystal ball
Trying to predict market swings usually results in buying and selling at all the wrong times. (more)
A strong case for market optimism
Believe it or not - you have several good reasons to believe the sky isn't falling. In fact, it may be clearing up. (more)
Investing for the long haul
This isn't the first, or the last time we've faced economic uncertainly, but with 30 or 40 years until retirement, there's no need to rush out of the market. (more)
Special Offer
3 of 19
BACK NEXT
Terrance Odean
Terrance Odean
•  Send feedback to Money Magazine
Professor of banking and finance, University of California, Berkeley

Try to take your mind off the market. Go to the beach or, if you are so unfortunate as to live on the East Coast or in the Midwest, go to a movie. Dashiell Hammett might help. (The last time I needed an escape from financial worries, I read three Hammett novels in quick succession.)

If you still can't get respite, your exposure to stocks is probably larger than your emotional capacity for risk. Hang on for a couple of weeks and when your emotions and the markets have settled down, discuss with some knowledgeable person how you might restructure your portfolio.

NEXT: Meir Statman

Last updated April 28 2008: 1:20 PM ET
Contact Us Closed Captioning Manage Cookies+ Site Map

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.