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canyonwalkerI spent over $20,000 shopping on Black Friday... but not on 4k QLED TVs, Amazon Dots, Apple earbuds, or any of the myriad other things advertised left, right, and center yesterday. I bought pieces of companies.
The stock markets were down on Friday. News about a new Coronavirus variant emerging raised fears of new rounds of lockdowns impinging consumer spending. Asian and European markets were down ahead of the opening of US markets at 9:30am EST. When US markets opened broad swaths of stocks were down by 3%, 4%, or more. Energy stocks were down 8% on fears that lockdowns would reduce travel and commerce.
Some people react to stock market downturns with dread. "Oh, no, how much money did I lose today?" I lost money Friday, in the sense that the market value of my portfolio decreased. It didn't bother me. I don't invest with the expectation of selling things the next day. (Some would argue that's not even investing but trading.) I buy stocks expecting to sell them anywhere from several months from now to a year or more, to possibly never. Thus when the market's down I look at it and think, "Woohoo! Stocks are on sale!"
The stock markets were down on Friday. News about a new Coronavirus variant emerging raised fears of new rounds of lockdowns impinging consumer spending. Asian and European markets were down ahead of the opening of US markets at 9:30am EST. When US markets opened broad swaths of stocks were down by 3%, 4%, or more. Energy stocks were down 8% on fears that lockdowns would reduce travel and commerce.
Some people react to stock market downturns with dread. "Oh, no, how much money did I lose today?" I lost money Friday, in the sense that the market value of my portfolio decreased. It didn't bother me. I don't invest with the expectation of selling things the next day. (Some would argue that's not even investing but trading.) I buy stocks expecting to sell them anywhere from several months from now to a year or more, to possibly never. Thus when the market's down I look at it and think, "Woohoo! Stocks are on sale!"
