[EvoFire]

https://www.cnn.com/business/live-news/global-stock-markets-plunge/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.

[Eatman]

Rekt, all I can say.

[whitev70r]

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

[Badhobz]

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.

[JDMDreams]

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

[Qmx323]

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

[Harvey Specter]

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

[donk.]

Bring on another 20-30% drop across the board

[!LittleDragon]

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.

[Hondaracer]

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

[Ulic Qel-Droma]

This ain’t even close to a crash lol.

[supafamous]

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.

[Ulic Qel-Droma]

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

[HonestTea]

Le painful

[lowside67]

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

-Mark

[Badhobz]

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.

[supafamous]

We're back baby! Financial crisis averted!

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

THE JAPANESE STOCK IS NOW UP ALMOST 11% TODAY

ITS ON TRACK FOR THE BEST DAY SINCE THE 2008/09 FINANCIAL CRISES

Also there were clear signs this was coming

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

[RevYouUp]

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

[whitev70r]

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

[Liquid_o2]

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

[RevYouUp]

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

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

[EvoFire]

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

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

[RabidRat]

Dead cat bounce?

[PeanutButter]

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.

[Gerbs]

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

-Mark

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!

[whitev70r]

Yes, regularly contribute, dollar cost averaging. Of course.

But you'd be a fool if there was a sale on something and you needed it, to wait till a week late when it is back to regular price, when you can get it for like 25% off.

[!LittleDragon]

Everyone's a hotshot investor until they're not. That's because there's no such thing. Money managers like Cathie Wood aren't good at picking stocks. They get lucky. Her recent record is trash... like selling NVDA right before it started to run up.

Buffett tells you to buy index funds like SPY and QQQ. Listen to someone who's worth thousands of times more than Cathie Wood... lol

Hell, even I thought I was a hotshot because for years, everything I bought turned to gold. Truth is, I started investing in mid 2008 and the whole market bottomed out... When the market returned to normal around 2011, I had a tough time picking winners. I realized I was lucky and not actually good... lol... Around that time, I switched to index funds and dividend funds. It's low maintenance because you're not monitoring like 40 stocks all the time.

[whitev70r]

^ whatever you said is applicable to what I alluded to.

Suppose you put $$ regularly in indexed Vanguard ETF's ... keep on going, that's great. Proven long term winning strategy. But if you had some cash built up from dividends or some cash lying around that you've meant to put into TFSA/RRSP, why wouldn't you put an extra $1000 or 2000 in on the days when the market lost 10%?

No one is suggesting you only use one strategy, trying to time the market. I am suggesting you do both - do your regularly contribution AND buy extra on down days.

[PeanutButter]

If you have spare cash and you have the appetite, you should definitely consider buying on the down days. Squeeze in a few more percentage points along the way, why not.

[Gerbs]

Topped up all along this downturn.

Even got INTC for $21, RIDE THE WAVE!

[PeanutButter]

Topped up all along this downturn.

Even got INTC for $21, RIDE THE WAVE!

Whoa, Intel has a PE of 90...

How much growth are they planning? That's a crazy high evaluation.

edit: Damn, they're even higher than Nvidia... that's wild.

[!LittleDragon]

Intel's wave seems to be sideways for a few years. They got some issues to work out

[pastarocket]

-hearing news about the U.S. Federal Reserve making a rate cut of 25 basis points in September.

I wonder if U.S. and Canadian stock indices will go up noticeably next month.

[JDMDreams]

^ depends how bad the economy when it cuts, if it gets worse then it might be too late and we end up with recession. I'm hearing 100% 0.25% cut in Sept for US and 60% it will be 0.5%

[CivicBlues]

Rate cuts are already priced in

[Hehe]

It’s just another day. At this stage in life, I no longer worry about my portfolio. Any big drop day is just a buying day for me. I used to try to time the market, but the result was close to50/50. Which meant I wasn’t being any smarter.

Invest only with money you don’t need. There’s no certainty in stock market.

Focus on the value proposition and how likely they are to become reality or achieve success.

[PeanutButter]

I feel like losing money in the stock market is necessary for you to become a good investor.

You need the market to teach you some hard lessons and then you come out on top.

The thrill of the marijuana hype days and the crypto bull runs were experience you can't get anywhere else.

Hopefully you learn though.

[68style]

Well, when a massive % of your portfolio is TSLA... gotta ride dat wave and it's been a wild one this past year, not caring become an artform.

[!LittleDragon]

Whenever people ask me how to get started in investing, I tell them to kiss their first $5k goodbye. You're going to lose it, consider it tuition.

[Ulic Qel-Droma]

lol now news headlines are "no recession is happening"...

I'm wondering if these headlines have anything to do with the upcoming election hah...

[whitev70r]

I think the markets is a test of reactivity and anxiety. If after one day of -10% and everyone remains calm, don't sell off, then somehow it magically recovers. If everyone panic and sell, then it becomes a spiralling effect ...even though nothing is dramatically different from one day to the next.