Don’t Just Do Something, Sit There

There’s a book by meditation teacher Sylvia Boorstein with a title that turns our usual instinct on its head: Don’t Just Do Something, Sit There.

It’s advice for meditation practice. When your mind races, when you’re uncomfortable, when you’re bored or anxious or restless — the instruction is counterintuitive. Don’t fix it. Don’t adjust. Don’t do anything.

Just sit.

It happens to be some of the best investment advice I know.

The Impulse to Act

When markets move, the human impulse is almost always to do something.

When markets drop, the instinct is obvious: sell before it gets worse.

What’s less obvious is that the same impulse appears when markets are strong. When portfolios are at all-time highs but the world feels unstable — when political winds shift, when headlines grow louder, when genuine risks seem to be gathering — the urge becomes more subtle. Lock in gains. Reduce exposure. Get defensive.

It feels prudent. Responsible, even.

Over time, I’ve watched thoughtful, well-informed people become convinced that conditions are setting up for a downturn. The reasoning is usually sound. The concerns are often legitimate. But markets don’t respond to how persuasive our reasoning feels.

Sometimes the market keeps rising. Sometimes it falls and recovers faster than expected. Either way, stepping aside at the wrong moment can be costly — not because the fear was irrational, but because timing is extraordinarily difficult.

The cost of being wrong isn’t philosophical. It’s mathematical.

The Hard Part Isn’t What You Think

If you’re reading this while markets are near record highs, the anxiety may already be there. It’s uncomfortable to stay invested when everything feels expensive. It’s uncomfortable to imagine that a correction could come at any time.

But the harder moment comes later.

It comes when markets have already fallen — not 3% or 5%, but 20% or 30%. When account balances are meaningfully lower. When headlines predict more pain ahead. When friends mention they’ve moved to cash.

That’s when sitting still feels impossible.

And that’s often when it matters most.

What the Evidence Shows

This isn’t just a philosophical stance. The data around investor behavior is remarkably consistent.

Study after study shows that the more investors trade, the worse their outcomes tend to be. One well-known study by Barber and Odean found that the most active traders underperformed the market by a wide margin, while those who traded least came much closer to matching overall returns.

History tells a similar story about bear markets. In 2020, markets fell sharply and recovered in months. In 2008–2009, markets fell dramatically and eventually surpassed prior highs. In the early 2000s, the pattern was the same.

The specifics change. The cycle does not.

The greatest damage often isn’t caused by the downturn itself, but by the decision to abandon a plan in the middle of it.

But What If This Time Is Different?

It’s a fair question.

Every generation faces moments that feel unprecedented. Economic systems evolve. Political climates shift. Technology reshapes industries. There are always legitimate reasons to worry.

And yet markets have endured world wars, depressions, inflationary spirals, technological revolutions, and geopolitical upheaval.

Could the future break from that pattern? Of course.

But if we imagine scenarios in which the entire economic system collapses, then portfolio positioning becomes almost irrelevant. In that kind of world, the distinction between stocks, bonds, and cash is unlikely to be the deciding factor.

Investing requires a quiet assumption that, despite disruption, productive businesses will continue to exist and adapt.

Historically, that assumption has been rewarded.

The Practice of Stillness

In meditation, sitting still doesn’t mean nothing is happening. It doesn’t mean passivity or indifference. It means observing discomfort without reacting automatically to it.

The same principle applies in investing.

Market volatility is uncomfortable by design. Watching values fluctuate tests patience. Fear feels urgent and persuasive. The impulse to act can feel not only justified but intelligent.

But reaction and wisdom are not the same thing.

Sitting still in markets doesn’t mean ignoring your financial life. It means staying anchored to a plan you created when you were calm. It means recognizing that discomfort is part of long-term investing, not a signal that something is broken.

In both meditation and investing, stillness is active. It requires discipline. It requires humility. It requires accepting that the urge to “do something” is often more about relieving anxiety than improving outcomes.

When the Mind (and Market) Won’t Settle

Anyone who has tried to meditate knows the experience of a mind that refuses to quiet down. Thoughts spiral. Doubts multiply. Physical discomfort grows louder.

The instruction remains the same: notice it. Return to the breath.

Investing has its equivalent. When risks feel obvious and compelling, when losses feel unbearable, when headlines seem to confirm your fears, the invitation is similar: notice the fear. Return to the plan.

Plans exist precisely because markets don’t move in straight lines.

The Paradox

Doing nothing is rarely easy.

It’s easier to react than to wait. Easier to adjust than to endure discomfort. Easier to grasp at the illusion of control than to accept uncertainty.

But the paradox in both meditation and investing is that progress often comes from restraint.

Markets will continue to rise and fall. Volatility will return. New crises will emerge. The instinct to act will feel urgent again and again.

And sometimes, the most disciplined response is the simplest one.

Don’t just do something.

Sit there.

Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of the author and not necessarily those of Raymond James.