Anxious and fearful market... If it's hard to endure alone...

Summary

Park Se-ik, CEO of Chesley Investment Advisory, offers market psychology advice during volatile and fearful times. He argues that crises create buying opportunities, specifically in beaten-down Korean small caps, while criticizing permabears who use pessimism for fame rather than consistent returns. He also flags the risk of a US correction but emphasizes a long-term optimistic approach.

• Park Se-ik compares market turbulence to airplane turbulence, saying experienced investors can stay calm and see opportunities in crises.
• He notes that KOSDAQ and KOSPI small caps have been crushed and now present a buying opportunity because fear creates good prices.
• He criticizes Michael Burry and Robert Kiyosaki for persistently bearish views, suggesting it is a marketing tactic rather than a good investment strategy.
• He draws parallels between the current rate-hiking cycle and 1987, warning that a September rate hike could trigger another US market correction.
• Despite near-term US risk, he believes long-term optimists ultimately make money and urges investors to buy good stocks at good prices during panics.
• The Korean market may lead the recovery if the US rebounds, but if it fails to follow, the outlook becomes more uncertain.