The Investing Diaries - Mar. 13th 2020
March 13th
The virus continues to escalate and so does the US response. Trump has now banned travel into the US from Europe, and has declared this a National Emergency.
People, this is real.
Grocery stores are beginning to get raided, and of all things toilet paper has become the commodity to own. Thankfully I had grabbed a 48 pack a week ago out of need of restock and with only two people in the house I believe we should be fine.
The biggest news may also be tied to the oil markets. The Saudi’s have gone into a full fledged price war with Russia and oil prices have dropped from just over $50 to $30 a barrel almost over night it seems. My stomach is churning looking at my oil holdings.
The Markets
Yesterday the market was absolutely annihilated and sat at close about 27% below the S&P 500 high of the year. This is extraordinary to watch as a young investor and something that my reading and prepping has prepared me for.
That being said, nothing quite prepares you to watch some of your holdings lose 60% plus from your original investment price. There were times that I just wanted to sell everything and sit in the house away from the markets, but I have to trust my investing strategy and leave things be.
It’s not a loss until you sell. Easy to say when you aren’t holding losers I guess.
The last couple day’s activities:
Purchased Disney (DIS) - Just a starting position as I fear this will get worse for them soon.
Added to Delta (DAL) - Airlines are getting crushed. Is this the bottom, probably not but adding small as it declines.