Adjusting the model.

Worried about last month’s nightmare? You’ve probably got the wrong model.

“If your investment portfolio is well-aligned with your actual risk tolerance and the horizon over which you expect to spend the funds, do nothing,” he wrote. “Otherwise, use this moment as an opportunity to set it right. Whatever you’re going to do, do it. You may not get another opportunity.”

Stocks Fall to Cap Turbulent Month [WSJ]
Awful August Sends Advisors Back to Their Models [WSJ MoneyBeat blog]