Portfolio (urgent) Update 1/24/2022
"Buy when there's blood in the streets, even if the blood is your own."
As I promised in my previous post:
If I feel like I have to share something ASAP, I will not be waiting for the monthly segment (which is next week) to share it, I will just put out a raw post without any “perfection”.
This is that post!
I want to start of with the quote for this post:
"Buy when there's blood in the streets, even if the blood is your own." - Baron Rothschild
Well to me it feels like I’m all bloodied up and at this point I’m not sure whose “blood” it is. Market has been brutal a days after I announce that I will not be doing week updates (Sorry? I promise its totally not my fault…or maybe it is? j/k j/k)
On my portfolio:
A few things I have done in my portfolio that I believe required this update:
I have sold out of $FB ,$SSSS, $ORI, and $OZKAP (all for profit)
I have started position in $OPRA $PYPL and $DISCK.
$PYPL was assigned to me via put options and $DISCK I bough and planning to add more below $25. Discovery is now my merger play.
I believe $OPRA is a net-net below $5ish dollars.
Check the image below to see what else I have bought or sold within existing holdings:
As said in previous post, if you would like to see DOLLAR AMOUNTS on weekly basis follow me on Instagram.
Commonstock has my portfolio linked so you can see it in “real time” ish.
On the market in general:
I really have no clue what’s going on. Lets be honest we all knew this was coming. Some tried to time it, others tried to ignore it. It doesn’t matter.
What matters is what you are buying (aka quality of the businesses) and the prices you are paying for those businesses.
If you are a day trader, I cant help you…no one can (sorry).
Whenever I do basic DCF, my rate was and is still much higher then what everyone else is using or might be (adjusting) using, which in a way keeps me more discipline and not as surprised when “stock drops” due to Fed/interest rates.
On S&P chart, we can go to $3,000 and I would still not be shocked (I wouldn’t be happy with the “phantom losses” but I wouldn’t be surprised based on how much we have went up without real major LONG pull back).
One suggestion I can give on the big red days:
Whenever your company’s stock drops significantly…pull away from the screen (put your phone down/leave it) and go for a walk. When on the walk think about your company without thinking about the price drop but just basic fundamentals aka are the sales still good? is the management still doing what they supposed to? are competitors struggling the same way your company does due to macro elements OR maybe its opposite and they are unable to catch up? etc.
If after the walk, you come to the conclusion that nothing has changed to your company then why worry? Yes it’s unpleasant to be down but it happens … these periods are much shorter (on the long time frame) compare to all of the “up days” you will enjoy in the future.
I cant and wont make any recommendation for you on how to react, its your portfolio and your money but I hope you can think clearly whenever you decide to buy or sell be it -50% or +300%.
“Your success in investing will depend in part on your character and guts and in part on your ability to realize, at the height of ebullience and the depth of despair alike, that this too, shall pass.” - Jack Bogle
I hope this kind of update was useful, if so please share it with other.
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