A few weeks ago I wrote about how the COVID-19 impact on the markets is temporary.
“Fearful when others are greedy and greedy when others are fearful.” – Warren Buffet
The last week has been an interesting view on my own psychology, on how all the best-made plans aren’t worth anything if you don’t have conviction and resolve. Fintwit talked about keeping a trading diary and here is my attempt to keep myself intellectually honest!
I am not a trader. I strongly believe that on a really long term horizon stocks will outperform every asset class. I also believe that the best opportunity to purchase assets is when everyone else is scared. In my lifetime I’ve seen two recessions – dotcom and GFC. I had just started my career during the dotcom boom and didn’t know anything and right before the GFC, we bought a house (great timing right :). So never had any cash to capitalize on the downswings in markets. I’d always thought that in the next downswing, I will be prepared and buy in-size!Read More »
Warning: Stream of consciousness follows! This week has been wild in the markets and I wanted to put my thoughts on paper and #timestamp my thinking. Standard disclaimer applies; none of this should be taken as investment advice!
RIP good times again?
Sequoia published version 2.0 of its RIP good times memo, catchily titled Coronavirus black swan of 2020. Taleb is furiously deadlifting somewhere right now 🙂 What was public stock performance since RIP good times? Looking back it looks like the S&P ripped up since its publication in October ’08. Is this the ultimate contrarian indicator? Are VC’s the last group to point at markets crashing? Is it all upside from here?Read More »