Well, perhaps the only comfort is I am not alone. Apart from the smart alecs who liquidate their stock portfolio before this equity meltdown, even people who just stay invested would have mourned for not selling when the going was good.
OK my hardwork for the whole of 2007 have been completely wiped out. Those effort looking up good dividend stocks, hours listening to CNBC, reading analysts' shitty reports, going to NLB to makes use of the free Bloomberg services, all gone down to the drain. With hindsight should have spent my time more fruitfully reading my counselling course's thick materials to get deeper insight into the subject. Instead I was often distracted to make quick buck and stayed glued to the screen.
Nevertheless on a more positive note, I tell myself:
1) At least I have followed a strict discipline of having a balanced portfolio ie. bonds, equity, property. (At the height of the equity market performance, I had been tempted over and over again to switch from bonds to stocks. Fortunately I was reminded by my treasury training of the importance of a balanced portfolio).
2) Now that my couselling course is in full steam, and the bear in the equity market is best to be left alone to savage the bull, I shall "guai guai" (behave conscientiously) do my assignments and spend more time on the thick reading material; as well as not feel fustrated doing housework (maid has left). After all no point looking at the screen and feeling the loss, hahaah.
Hey but one more important positive note. Total return of equity is still good in the long term. If you have invested in equities in 2003/4 and stay invested, the total return todate far outweigh the return from bonds, even with the current correction. So as Warren Buffet says you can't time the market, just invest in companies you feel have value, dont bother about the price daily movement and review your balance sheet once a while. Cheers!
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