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I actually lucked out with the stock market...

posted 5 years ago by [deleted]
16 replies | jump to latest

I'm enrolled in my company's stock option plan so a portion of my pay gets invested each paycheck. Anyway I withdrew about a 3rd of my funds to put toward a car in January when the stock was around $21 and change per share. As of today it was down to $14 and change per share. Since I don't plan on taking another distribution for a while I'm not too concerned about the giant drop but wow it would've sucked if my old car had died now instead of 7 weeks ago and my stock was worth a full 3rd less than it was in January!

[–] [deleted] 5 years ago

I am putting my head in the sand when it comes to investments. Back in 2008 we lost 40% in a matter of weeks. I am trying to ignore the day to day news and think long term.

[–] nyctc7 (43721) 5 years ago

Interviewer to Warren Buffett: How much did you lose in the recession of 2008?
Buffet: Nothing. I didn't sell.

[–] PlanetTree (26) 5 years ago

That's actually better. In general people who stay in, recover faster than those who get out.

[–] [deleted] 5 years ago

Agreed, can't remember the last time I looked at my 401k. My company stock price is on the homepage every time I go to the internet at work though so it's unfortunately impossible for me to avoid. It was down to $13 a couple years back and climbed back up so I'm not concerned about it, but my car issue necessitated me taking a distribution and as it turned out I was just plain lucky with the timing of it all.

[–] [deleted] 5 years ago

I'm not going to open my monthly statements going forward. I didn't open them for nearly two years back in 2008-2010.

[–] [deleted] 5 years ago

I think it's been over a year since I've opened one myself. Smart move til this passes.

[–] [deleted] 5 years ago

there's probably a lot of bargains out there.

unless you need the money next month, there's no need to change, and probably a good reason to shop around a bit.

[–] tcrum (31595) 5 years ago

About 15 years ago my husbands company gave him company shares, but they couldn't be cashed out for like a year. During that year the stock went from 10$ up to 200$ and then back down to around 25$. That stock is now at .50 cents. That lesson taught me to only invest in blue chip stocks.

[–] [deleted] 5 years ago

should have sold at $200

[–] tcrum (31595) 5 years ago

I couldn't it was set up to vest so many shares each year. I was about 3 months off. That hurt for a long time!

[–] [deleted] 5 years ago

that is bad luck

[–] PlanetTree (26) 5 years ago

[–] Quasimodo (16388) 5 years ago

They should call it 'The Gambling Market' because that's what it is.

[–] dmac8 (5050) 5 years ago

I had been profit-taking since the beginning of the year.

I had accomplished my goal for 2020 by early Feb and rebalanced my portfolio in anticipation of a downturn one way or another. Corona is just a trigger but the party was going to end soon anyway. Imo, it's actually a healthy development. There'll be a huge buying opportunity soon.

[–] [deleted] 5 years ago

Yup, personally I'd be fine with my company stock staying down for a while since each pay period I'd be buying in at the lower price and I have no intention of withdrawing any more for at least a couple years.

[–] AndyKing1967 (38427) 5 years ago

I run a Financial Consultancy, so I won’t bore you with work talk, lol.