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Back in Nov I was mostly invested in Covid stocks - #GDR #ODX #SNG #TILS (not all of them are ‘just Covid’). The 9th Nov vaccine news saw my PF battered – I noticed them starting to drop, Tweeted (see end of thread) & casually stepped away from my computer for a dinner
Back in Nov I was mostly invested in Covid stocks - #GDR #ODX #SNG #TILS (not all of them are ‘just Covid’). The 9th Nov vaccine news saw my PF battered – I noticed them starting to drop, Tweeted (see end of thread) & casually stepped away from my computer for a dinner
break. My initial thoughts were that we would see a bit of a drop & they would bounce back - I didn’t want to panic sell as it’s generally not a good idea, & I was confident with my research & investments. Little did I know there would be a huge overreaction, & by the end of Nov
my PF was down a whopping 45% & all my paper profits were completely wiped out! I continued to hold & topped up on most of my stocks close to the bottoms & waited… Fast forward a couple of months & I’m happy to report that my ISA has now fully recovered back above the levels
before vaccine rollouts were announced, & my SIPP has been smashing all-time highs this month (both are up circa 30% YTD!). Sometimes it pays to stick with your investments, even when faced with turbulent times. Many would have sold these stocks at the lows, only to watch some of
them more than double over the last few weeks… Others would have got out & moved on, which is fair enough, especially if they managed to make money elsewhere – some wouldn’t have been so lucky!
Psychologically this wasn’t easy – I was certainly questioning myself & lots of emotions were playing out in my head. I went for walks to think clearly & kept coming to the same conclusion that I was right, & it was just going to be a matter of waiting a short while before things
recovered & people saw some sense. I guess what I’m saying is; If you have done plenty of research, you should be able to hold a stock with conviction when things get bumpy. Obviously you should always reassess if something happens that might have an adverse effect on
a stock but as a general rule, if the story hasn’t changed for the worse – stick with it! I was confident that vaccines would not be a silver bullet, & testing & therapeutics in the Covid space would still be required & play a crucial role in helping to combat the virus.
Here’s what I Tweeted as a reaction to 9th Nov as soon as the selloff began… https://twitter.com/Mr21318/status/1325771199624998913
