The markets are humbling

As I write this, my portfolio has been down 8% this past week with the $SPY hovering only 1% down over the same period. Perhaps it shouldn’t be a surprise for my tech-focused portfolio that’s naturally going to have a lot more volatility than the $SPY. Regardless, the markets can be humbling at times.

Earlier this year, there were many who believe stocks could only go up. My portfolio certainly looked like that at times as it felt like every stock was hitting all time highs. Fast forward to November and most of my portfolio has retreated significantly.

The markets are humbling.

Cathy Wood’s $ARKK ETF which was the talk of the town last year has been down 15.84% YTD.

Chamath aka the King of SPACs who was perhaps the most popular investor earlier this year has taken his lumps as his investments such as $OPEN and $MILE have been in a downward trend since debuting on the public markets.

My point is to neither compare myself to Cathy or Chamath, nor talk down upon them. Quite frankly, I look up to both of them and they have done much more in their careers than I’ve accomplished. My point is that even the best and brightest investors can find the stock market humbling. Stocks don’t always go up.

No one wants their portfolios to be down, but it’s a good point for me to reevaluate my strategy and adjust. I’ll be focused on that as I rebalance my portfolio in the next few weeks leading up to year-end.