Aug 5th Market Crash
 

https://www.cnn.com/business/live-ne...nge/index.html

I'm not invested in investing, but this took me by surprise. How are you guys doing? I checked my investment funds and they all dropped various amounts.

Rekt, all I can say.

Good day to buy ... except TSX is closed.

Pretty damn bad. Luckily we pullled most of our capital out of stocks and into high rate interest savings when they were giving out gics for 4.5% on a one year.

Yea I want to buy but we closed, buy the dip

Last Friday was the best fucking Friday to dump a load into wealth simple for that sweet bonus what a great decision I made

In the last few months, there has been an unrealistic run-up in many tech stocks like NVDA, so a pullback was expected.

Bring on another 20-30% drop across the board

Past few days, I'm down about $30k. Not worried, corrections are normal. I've invested through a few market crashes and everytime, I've come out with more money than before.

Ignore it, stay invested and keep shoveling more money in. You're better off in the long run.

There are endless charts about investing which basically say, there’s no bad time to start, and there’s never a bad time to add to your investments, Lows or highs.

The only real “losers” in these times are people who move into retirement on a dip, and even then if you stay invested you’re retirement savings will still likely recover to some degree

This ain’t even close to a crash lol.

It turned out to be a surprisingly mild day after what was a very rocky start - I got the "down 10%" notifications for multiple stocks this morning but it all settled down by end of day. My RRSP is back to where it was about 5 weeks ago so no biggie - that's a pretty normal swing. My non-RRSP is where the up and downs were a lot bigger - I'm back to where I was in February which sucks but I feel good that it'll bounce back at least half way by end of year.

I do regret not exiting some of my position on Amazon when it hit $200 in July - that's always been a bit of a target number for me but I didn't expect it to happen and when it did I was too busy to figure out how much to sell and left it. If I had exited some of it I would have just bought back in today - $160 for Amazon is really cheap - I'm super bullish on their business. I was planning to sell a bunch of it to pay down my mortgage next year but now I might wait a bit to see it get back to $200 first.

expect things to get more volatile in the next coming months. sept is usually the worst performing month and that's coming soon.

Le painful

So basically you are a ton worse off than if you had kept all your capital in stocks, even with this correction considered.

-Mark

Nah we sold our position in air Canada when it was 26 bucks. Made a killing cuz we bought it when it was 20 bucks.

Then threw it into gics due to fears of instability. I’m happy with the choices we made.

We're back baby! Financial crisis averted!

https://x.com/gurgavin/status/1820633493711228968?s=61

Also there were clear signs this was coming

https://i.imgur.com/Gtte2xc.jpeg

I’m all up for a discount, I just wish I woke up at 6:30 lol

Bit of a nothing burger, over reaction. Couldn't even buy anything on sale today, it all trended back up.

Overall markets are still down 10% from a week ago if you think it is at the bottom now.

Yea, it sucked so bad the Canadian market was closed on Monday

At the time, it looked like it could have potentially been the start of something big, but alas it was just a blip :badpokerface:

Dead cat bounce?

A prudent investor invests consistently every month. If the market has a significant correction >5% market drop, and you have extra cash available, you can invest more that month.

It's nearly impossible to time the market over the long term, so don't bother.

It's also crazy that people think they can outperform the S&P 500 over the long term. Multi-billion dollar hedge funds can't outperform the S&P 500, yet the people who read motley fool think they can. If you're picking individual stocks, just don't be deluded into thinking you're going to outperform the market, that probability is low.

Yeah up 11% YTD and 14% YOY. Gotten owned on GICs that I got for my mom, but I guess different risk/volatility for the seniors!