Yesterday I posted that I was buying back into the market. Truth be told, I have been buying trickling some money back into the market over the past several weeks. Yesterday I double downed and invested a reasonable chunk of cash into bank stocks and Tata Motors (of which I already have a good size stake).
This morning I am all smiles. WFC is up 22.5% and BAC is up 22.3% and my buds at TTM are up 16%. One big miss has been Ford. I never liked the brand and therefore didn’t want to support it financially. I’ve missed a 20% ROI on that stock as well. Luckily my father likes the brand and pulled the trigger at its bottom. True diversification – if I miss hopefully someone in my family hits.
Snippet from a recent Motley Fool article
“Be brave
As difficult as it is right now, following the “this too will pass” philosophy really does work. No matter how bad it gets, things will eventually recover. Those brave enough to dive in when no one else dares to touch stocks are the ones who end up scoring the multibagger returns.
Need proof? Think about the best times you could have bought stocks in the past: after the economy recovered from oil shocks in the ’70s, after the magnificent market crash of 1987, after global financial markets seized up in 1998, and after the 9/11 attacks that shook markets to the core. As plainly obvious as it is in hindsight, the best buying opportunities come when investors are scared out of their wits and threaten to give up on markets altogether.”
I am not suggesting anyone take any course of action. My opinions are my own and not affiliated with Motley Fool or anyone who knows anything about investment strategies. I am basically a gambler at heart who is looking for the hail-mary to lifes riches.
I’m buying in. The way I see it, if I loose any additional investments in the market, it would essentially amount to damaged rims on a totalled Maybach. Can you really get pissed at that point?
Finance
