Fear and panic

I’m writing this as I’m watching the South Carolina Democratic debate. Bernie is getting the front runner treatment and getting absolutely roasted by the other candidates. It was a better showing by Bloomberg. There’s still 30 minutes to go, but I thought this was a much better showing for Bloomberg and he should benefit from everyone else roasting Bernie.

On to the next…

The market sell-off continues. Fear and panic over the potential pandemic from the coronavirus is rampant. Nearly all my close friends are screaming recession and saying I told you so.

In times like these people like to forget the events of the past few months.

I’m not sure what’s crazier: the fact that my portfolio is down 11.06% in the past week or that my portfolio is still up 11.30% in the past 3 months.

The coronavirus mess is not going to resolved in the next month. This is going to continue for some time. There will likely be further market falls as news of the virus gets worse. Perhaps there will be a bounce back or two. If the virus gets as bad as the worst fear, we’re going to have a much bigger problem than worrying about our stocks.

With that said, spring is coming. Coronavirus will go away. The markets will bounce back. In these times, we need to hold on to our wits and not panic. This may be the best buying opportunity we’ll see all year.