Mr Market recently went on a correction spree and the market was filled with way too much red in the last week or so. That got me thinking, how do people react when such things happen? Do we panic and go into a selling frenzy? Or should we take a step back and try to think rationally about the initial reasons that we bought into a certain company in the first place.
Reading the thoughts of other finance bloggers and users on apps like InvestingNote really puts some things into perspective. I think it is only human to panic and feel some emotion when something that you are vested in takes a hit/plunge. But going beyond that, the fundementals of the company and the track record of its management should provide us with some assurances to tide us over this period of volatility. I am definitely not immune to being scared and have a support system of people I trust that I can turn to for their opinions and absorb alternative viewpoints so that the final decision made is as informed as possible.
Going forward into the month, I am planning on creating a worksheet for couples (married or not) to approach the topic of money and finance in Singapore's context. If you have anything you want to see in this, please holler at me or drop me a comment and I will take your suggestion into consideration.
Share with me your thoughts as we enter the last two months of 2020!
SG FI Dad, out.
