Chris Johnson

I usually like to spend my time with these articles writing a funny analogy to a golf or fishing trip or something about how investing can be like raising kids. Today's message, however, is simpler and more straightforward.

Folks, I've written you a lot about the market's wild gyrations over the last month. I've told you that "volatility creates opportunity," but I'm here to tell you today that things are a little different.

I spent much of yesterday thinking about you and your portfolios. Like me, I'm guessing that you have accounts that are set up for your retirement and other savings, plus your accounts for speculation trades.

This is wise, but there's something we all must consider today, and for the next month or so… this isn't even a speculative market; it's chaos.

I don't say this to strike fear – 10 minutes in front of a television will do that – but instead, I want to make a point. Speculation still depends on an inherent ability to forecast something that may happen. This market crossed a line where speculation ended and chaos began last Monday.

Now, we need the markets to reprice risk and begin rebuilding back to a new normal. It will happen.

How long will this take? Nobody can answer that question, but I do know that I'll be here with you the whole time, and when it does, we'll pick up right where we left off. We will have opportunities here and there along the way, while we look for the market to get a fundamental reset in order to be anything less than dangerous.

Until then, here's what my 30 years of experience tell me… Full Story