Be like Captain Cool
Investors are faced with tough choices during the COVID-19 crisis, which could impact their returns for years to come. Given that the downside risk of making the wrong call is so high, this is a great time to learn important lessons about how to deal with the unexpected. But where can we find those lessons New research from Dominion can help you answer that question. Here’s a preview:
“What can Tom Hanks and a retired US Air Force pilot teach us about making investment decisions during a time of crisis Quite a lot, as it happens.
In his 2016 film ‘Sully’, director and producer Clint Eastwood cast Tom Hanks to play the real-life hero Captain Chesley Sullenberger. The movie portrays the events of January 15th 2009 and US Airways Flight 1549 which, just 3 minutes after taking off from New York’s LaGuardia Airport and at the meagre altitude of 850 metres, suffered multiple bird strikes which disabled both of the aircraft’s engines. The hero of this story, Captain Sullenberger, was in command of the aircraft that fateful day.
Captain Sullenberger had seconds to make a decision and the survival of his 155 passengers and crew depended on him making the right call. He decided to ditch the aircraft in the Hudson River, correctly determining that with no functioning engines he could not make it to the nearest runway. The successful landing on the Hudson River saved the lives of everyone onboard. Captain Sullenberger is rightly considered a hero and his actions that day offer us mere mortals an important lesson in how to respond to a crisis.”
If you’re interested to learn Captain Cool’s secret – and make better investment decisions in the process – then it’s well worth reading the rest of this research piece. You can find it in full here.
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The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.