Dr. Daniel Crosby, a psychologist with a specialty in behavioral finance, has written an article about RAIN, a four-step process for managing periods of acute stress.
The four steps are:
- Recognition,
- Acceptance,
- Investigation, and
- Non-identification.
« The final step is perhaps the most powerful. Now that you have recognized, accepted, and identified your stress, you realize you are more than your emotions. You can experience a feeling without necessarily having to act on it. In fact, it’s exactly what we ask of ourselves and investors when we ask them to stay the course and keep a long-term perspective: “feel the fear and do it anyway.” You can be angry without being violent. You can be sad without being incapacitated. You can be scared about what is rightly frightening news without allowing it to destroy your ability to lead at home and at work. »
Crosby is the author of The Laws of Wealth.
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