Not the first time

There's nothing new about the ongoing market correction. As in the past, it should be welcomed, not feared.

- DHIRENDRA KUMAR

This is the 16th-anniversary issue of 'Wealth Insight' and hardly the first one where the equity markets are a bit shaky. In fact, pretty early in the history of this magazine, my team and I prepared the 2008 anniversary issue, which was obviously a really bad time.

I have a rather amusing memory of that year. I remember a CEO telling me proudly in an interview that his parent company in Europe was unaffected by the global financial crisis. However, by the time the interview was published, the company was defunct.

So, by that standard, what is happening now is hardly a blip. Still, everyone hates market crashes. Not just actual crashes but even more modest bear markets, such as the one we are going through now. Actually, I should say 'almost everyone'. There are many investors who are not bothered by bear markets and actually welcome them and I'm one of them. Bear markets are good, an occasional crash is good too and once in a while a really tough business environment is also good. These are things to be welcomed, not feared. Here's why.