Below is the latest stocks update from Bro. Bo. This is just an excerpt to keep you informed and inspired because the market is down nowadays but actually, its “shopping time”. My main concern is, payday is still a week away. Hopefully next week this market condition is still the same or maybe even lower than today so we can buy more cheaper SAM stocks at discounted prices. Happy investing!
I started investing in the stock market in 2007.
You can imagine how catastrophic that was for me. Because in 2008, the biggest economic storm hit the world. It was so big, many economists compared the 2008 Recession to the 1923 Great Depression! Meaning: The last time the economy was that bad was 90 years ago.
And my stocks showed it: My stocks were down by 40 percent.
Ugh. I remember I had around P3 million in the stock market. It whittled down to P1.8 million. On “paper” (or on my computer screen), I lost P1.2 million! If it wasn’t for my faith, I bet that would have been enough to give me a full-blown depression.
Thankfully, I also had wise mentors who looked me in the eye and said, “Bo, that’s nothing! Forget about it. Keep buying. Now!”
I did. And one year later, in 2009, BOOM! The stock market soared by 100 percent.
Every time there’s a dip in the stock market (like what we’re experiencing now), I like telling this story.
If you feel depressed every time you open your Citiseconline page because of all the negative numbers you see in your portfolio, relax. Take it easy. You’re okay. Just keep buying.
In a month or two, the stock market will turn around and start going up again.
Unless, of course, another crisis pops up.
Like if the China-Philippine tension escalates, that will be a crisis—and the stock market will plunge.
Or if the Corona case explodes into political mayhem, that will be a crisis too—and the stock market will plunge.
As long-term investors, we LOVE crisis. Because we can buy great companies at cheap prices.
So either way, up or down, we’re good.
Remember the Bible story of how the apostles were panicking in the boat when a storm hit them, but Jesus was sleeping in the boat? That’s what we need to learn to do. We need to be like Jesus. We need to learn how to sleep in the storm.
May your dreams come true,