I’ll skip the market commentary as you’ve probably read it somewhere.
This morning I find out my portfolio is -4%. Very deep in the red. To say this month has been dreadful is an understatement but this is the perfect time to take a gut check to see whether you have conviction in your stock picks or want to run for the hills.
In the past few days SUNH dropped 50% due to news of medicare spending cuts. ARO dropped a further 24% today on weak retail sales as consumers cut back on spending. Include all the other declines and it adds up, BUT…
Back in 2009, I clearly remember telling myself one thing while I continued to add or buy new positions.
You have to be in it to win it.
You shouldn’t be investing with money you need immediately anyways so if you are at least mid to long term focused, the time is getting ripe to make some big bold moves should the economy continue to flounder and Europe worries continue to spread.
Now is the time to focus on value instead of price. This is no time to be friends with your emotions.
Now Get Panicking!
- Panic if you don’t have a shopping list ready
- Panic if you don’t have enough cash
- Panic if you are panicking