Be Where Your (Investing) Feet Are

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Random Words from our sponsor, Public.com

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Paid for by Public Investing. Options not suitable for all investors and carry significant risk. Full disclosures and podcast description U.S. members only. 

Jeff’s Random Words

Bad days in the stock market happen. As I write this (mid-day on August 2), the S&P 500 is down 2% and the Nasdaq has fallen 3%. Many stocks in my portfolio are down even more. It happens. If I’m being honest, days like this make me excited. That might seem counterintuitive, but for someone at my stage in life, it’s not. 

I have at least 20 years before I plan to retire. So a down day, week, year, or year-plus at this point is essentially an opportunity. An opportunity to buy stocks at a discount and to use all the frameworks and tools in my investing toolbox. It’s not always easy to see it that way (see my vibes circa 2022), but the more experience I get, the easier it has become.

I want to be clear, if you’re reading this while in or near retirement, this certainly may land differently. I appreciate that. However, I can’t pretend to know how that feels, so I’m going to continue to speak about my experience. I’ll be where you are eventually, God willing.

Anyway, I just went through my portfolio hoping to see some obvious buying opportunities. I was initially drawn to Amazon (AMZN). The market did not like its earnings (specifically its guidance) and the stock is down around 10% today, putting shares back to the price they traded for back in February!

Next, I turned to ASML (ASML). One of my favorite stocks, and down 8% today! We haven’t seen this share price since January! You get the idea…

But here’s the thing. I didn’t buy anything. I just closed the browser and walked away from the computer. Newer-investor me would have bought a bunch of stocks today. But patience and a tendency towards inaction have benefitted me in the past and I’m fine waiting for now. I don’t think I’m passing up any no-brainer value opportunities right now so I owe it to myself to slow down and think more.

For example, I haven’t taken more than a cursory glance at Amazon’s earnings yet. I have a sense that this might be an overreaction that happened to coincide with a bad market day, but that’s just an assumption at this point. I need to read more. It reminds me of my new favorite mantra: Don’t trade, learn.

So that’s what I’m going to do. Learn. Then (maybe), I’ll buy again.

Jeff

Jason’s Not-So-Random Words (this week)

I bought a whole bunch of stocks on Friday.

Jason