However, without a process in place, caution, worry, second-guessing and more override the opportunity to push the “buy” button.

Following rules for “when to sell” we currently have dry powder and stand ready to buy. Our “when to buy” framework is similarly rules-based, quantitative and reviewed daily with a goal of identifying the inflection points and then trend establishment to the upside.

We have seen this cycle of emotion before. Again, we ask: when it comes time to buy, will you?

With some confidence, we can say that you won’t want to buy when it is time to buy, so our process is to have a rules-based process ready and the discipline to just do it.

Terri Spath, CFA, CFP, is chief investment officer and portfolio manager at Sierra Investment Management Inc.

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