felt it in the guts when the chute opened this Monday morning. Triple digit trouble gushed out of all three indexes, doom filled the air, and we felt like shutting the entire goddamn rig down. Investing can feel like a vague promise; stack your cash here on this old stump and come back in the fall. We get the fall part.
Absolutely no one knows the future, but that’s O.K. We do know that normalcy will return. We will, one day, look back and remember. What we do now will determine the tone of that look-back. Fact. Most of our positions are double digits down. Tesla and Alteryx are greater than 30% down, and four more are in the hole more than 20%. Meanwhile we’ve built position is Southern, American Electric Power, and another REIT, Starwood Property Trust(STWD).
Gloom and doom are real but they’re not market truths, but rather feelings. Investing and emotion need to live in separate places. Bringing your emotions to your trading is precisely the same as sticking a fork into the toaster.
Yeah, we’ve said it before but here it comes again. Maintain a long-term perspective. Keep some cash on hand. Buy small when everybody’s selling and scared to death. We’re getting there. Buy some dividends–think Southern(SO). We bought two shares of FICO today–two. We bought four shares of TREX–only four. We’re buying what we’re the furthest down on. Only those with vertical irises can buy when doom’s certain, and this is a click away.
Only reptiles remain now. Turn your hat around backward and stare straight into the eyes of this beast. We will be here tomorrow, and the day after. Markets go down, and they go back up. Be there. The weak hands are gone now. If you intend to continue as an investor you’re building your chops today. As always, plant your feet and lean in.