Today just as I was thinking of writing a blog post for all our investors about the recent market downturn and what they should do about it, a colleague shared an email by one of our investors to us on the same topic.
I am sharing it here verbatim since it echoes the same advice that I would have jotted down but now it comes from someone who has been investing since 1978!
Please share my advice to your valued customers and to the staff at Goalwise.
This is for those who have invested their hard earned money in the stock market. There is more pain before any gain. Fasten your seat belts, stay calm, meditate as this rollercoaster ride will have to come to an end.. So stay the course. Warren Buffett said, ' buy when there is fear and sell when there is greed '. Don't take it literally unless you have tons of liquidity, willingness and capability to take in further losses. Else watch the rollercoaster from the sidelines.
Look at the positive side of things. Work from home means no commute , less pollution and traffic on the roads, more time to spend with family. So hit the walking trail if you haven't done before. Take care of your mental and physical health. Smile and laugh at yourself.
This' black swan' too will pass..I have been there and done that. Investing since 1978.
Cheers and God bless.
R K Chandrashekar
I will just add my two bits - if you are feeling very nervous, it's a strong indicator that you have taken on more risk than your actual risk tolerance. Take our risk profile again and rebalance your investments according to your actual risk profile.
Another good read: https://www.collaborativefund.com/blog/well-get-through-this/