No way to know if this is the other shoe finally dropping in the market or our portfolio. Not even the extraordinary earnings call from OKTA yesterday (which pushed the stock up 5% after hours) was enough to keep OKTA positive today. Today’s drop in the portfolio of about 7% overall is the biggest single day drop in my portfolio…ever. But having lived through the dot.com crash, the financial crisis of 2008 and, yes, even the 1987 crash, these drops have always represented opportunity and the market has always come back and soared higher. If I’d been sitting out all this time, I would have missed incredible gains….and If I had been sitting out, I would be starting to buy right now while the hoards run for the hills. As Warren Buffett once said, ““Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”. Fear index is at an all time high today and the VIX is in the 50’s, where it has not been since 2008. Wash your hands and get ready to go back to work!! (Though maybe from your home office). 😉
A very eloquent, masterful expression of the current Virus situation. Definitely worth the read!!
