The Investing Diaries - Mar. 9th 2020

March 9th

Okay, so there is a lot to catch up on.

The world has begun to panic and for right reason. There has been almost 100,000 people infected with the corona virus and over 3000 dead worldwide. The US has now lifted restrictions on testing and it looks like the government is trying to find a way to push it forward as quickly as possible. This is about to get interesting.

About a week ago I went out and stocked up on food, enough to last at least 2 weeks of self isolation. I have masks and latex gloves as well just in case of a further outbreak in the US. Currently the major sections effected have been on the West Coast, far away from my Florida home.

The Markets

The market fell hard today and is now down about 20% from its highs. My portfolio is getting roughed up pretty good but the cash that I have been sitting on will now be able to get put to some use. The market is sure to fall further but I will deploy once companies reach my value buying price.

Today’s activities:

Added to four current holdings:

BP - Off almost 30% now due to the China shutdown worries. This is getting crushed.

Vaalco Energy (EGY) - Same as BP, but this company is in a great debt and cash shape. A steal here.

ViacomCBS (VIAC) - Added here again as I believe it is very undervalued.

Prudential (PRU) - Solid company that is being sold cheap.