Money Mongoose

Stock market crash

As I took my holidays on an Italian lake, I spent a lot of time hiking, kayaking and swimming. I had little time for keeping up with the news and investments except for a brief minute some days just before bedtime to check on my portfolio.

When I looked the first night, it was down $20k for the day. Another day it was down $15k. Then down $50k. Yikes!

Maybe it was the holiday mood, or the exhaustion from holidaying with young children, but it didn’t affect my mood at all and I wasn’t concerned about this thinking it will be something that I look into when I get home.

All in all, I lost >$100k in that single week! :O Normally, I would find it a great opportunity to buy more stocks, but all my cash is already invested not just now but incoming cash for the rest of the year is already earmarked for other expenditure.

I surprised myself how calm and philosophical I was about this, but do wonder how calm I would remain if the fall continues further and further. As primarily a growth stock investor, my portfolio has been hit particularly hard and a significant exposure to Chinese stocks added further pain.

Right now, my plan is to stay the course. How badly was your portfolio hit and what do you plan to do about it?


Comments

4 responses to “Stock market crash”

  1. Wice says:

    Down $100 k in a week – ouch! You must have a decent sized portfolio.

    I’m down about 10% but I’ve got a smaller stake in equities. Like you I plan to stick the course, I think the stock market has a bit left in it still and I can’t see it falling much further for the time being.

    I’ll probably start to sell when the yield curve inverts or the Fed starts panicking – could be too late though then! I don’t plan on retiring anytime soon though and even if stocks drop 30 % + I’ll collect the dividends at least.

    • Phil says:

      I own quite a few growth stocks. AMD and FeverTree were the focus of my investment the last 2 years and so they alone counted for a big part of the drop. Tobacco stocks also took a heavy toll this year.

      • Wice says:

        Nice picks! They’ve had a fantastic run. That’s the big downside with the growth stocks though in that they’re hit the hardest during a downswing. I wish I had invested AMD a few years ago…

  2. Phil says:

    And today down another $36k! :O

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