Yesterday was the sixth worst day for stocks in December going back to 1950 and the second worst day overall this year. I want to remind you that it doesn't matter what you bought or sold. The important thing is you panicked.
On any given day, my fellow “buy-and-hold indexers” don’t panic. As of today’s market close, the year-to-date return on the S&P 500 Index was 23% (excluding dividends). As of month-end November, the S&P 2-year return was 47.85%. We’re calm during the day and sleep well at night.
Didn’t even bother to check my portfolio. I’m a firm believer in long term investing, stick to the plan (e.g. asset location + appropriate asset allocation for goal X and for time horizon Y + the CMAs + the power of compounding interest + right levers, etc.) and the results will play out in the investor’s favor over time.
What happened? ;)
Don’t think many people panicked. It was a systematics’ deleveraging episode. Retail bought the dip. Mainly in ETFs. TSLA saw net outflows. Us at Vanda Research can help you understand flow and positioning rather than guess :)
Just let the people screaming bear market for the last 15 years enjoy their day.
If you’re an investor you realize the drop was a real knee jerk reaction. Got in Tsla,Sq,paypal and expect to recoup a bit before year end but no one can complain about this run.
Lol. All my stops got hit on the support line. But I expected this to happen in January. I'll ignore the "Christmas rally" or "December is seasonally strong" commentaries next time the market gets close to +30% in the year.
The bad news is you have less money. The good news is you have one less day to worry about paying for.
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2dEscalator up, elevator down. That sort of thing rattles some nerves along the way.