Greetings from Costa Rica where I'm scoping out a real estate deal in Mal Pais. As it turns out, the day I spent travelling was the day that the stock market got hammered. Boy was I ever nervous, at 9:45 the market lost 4% and the Asian market had crashed. I thought that I was fucked.
As it turns out, I was smarter than I thought. I had sold off some inflated risky stuff last week (ICE, CHL) and bought into some beaten down bargains (VRNT) to soften my risk. I put in stop losses at 5% on the stuff that had high PEs and they all triggered by 9:45AM, 15 minutes in. All the other stuff didn't move much. So 2/3 of my portfolio was out or in a safe place. Today I bought a serious bargain (GS @199) and replaced my position in DIVX 2 bucks cheaper than I sold it yesterday. All in all, I was still up 2% and replaced my positions in a much better deal.
I'm not as dumb as I thought I was.
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2 comments:
I'm dumb. Was on the road and had no stops, no access. C'est la vie!
R.
Luck you. I lost 10,000. My stock broker better make it up quickly.
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