The Stock Market is Killing Me

@porwest (58603)
United States
September 22, 2022 7:03am CST
Yep. It's been a literal bear. But that's the nature of the beast as I always say. You have to accept the bad with the good and vice versa. The key for me is to always stay the course no matter what the market does. So, that is what I am doing. The truth is, even though the stock market is going through a bit of a rough spell, that may get even worse if it is officially announced we are in a recession (which I think we already are), I still stand by my 'one direction' sentiment—the stock market only really ever goes up ultimately. So, the key for me is to continue to buy solid companies on the cheaps and make a ton of money on the way back up. Which I will. Besides, I have not sold a single share of stock. So any losses are only short term and only on paper, not realized.
7 people like this
9 responses
@moffittjc (107542)
• Gainesville, Florida
22 Sep
I’m following the same strategy. Buy as much as you can now why stocks are getting hammered, and then wait to ride it back to the top in the (hopefully) near future. I’m getting killed right now too, but like you said it’s all just a paper loss.
1 person likes this
@moffittjc (107542)
• Gainesville, Florida
24 Sep
@porwest Me too! My portfolio exploded in growth after that.
1 person likes this
@porwest (58603)
• United States
27 Sep
@moffittjc For me, and I think for a lot of people who were 'contrarian,' it was one of the best investments I ever made was to buy all the way down. I never made more money in my entire life. It is probably the source of most of my wealth today, honestly. And today we are getting another opportunity.
1 person likes this
@porwest (58603)
• United States
23 Sep
I look back at around 2008 when the stock tanked about 60%. That's where I made most of my money.
1 person likes this
@FourWalls (47390)
• United States
22 Sep
My mom had stock shares of the company she worked for, and she got a nice sum when she retired and sold them. By and large, though, it’s not for me.
1 person likes this
@FourWalls (47390)
• United States
23 Sep
@porwest — I don’t like money, that’s for dang sure. I certainly don’t like what people do for it. As Pink Floyd sang, “Money, so they say, is the root of all evil today.”
1 person likes this
@porwest (58603)
• United States
23 Sep
@FourWalls Most people don't do bad things with it nor for it. That has been a long held common misconception about money, mostly applied by people who don't have it, don't know how to get it, and are angry that they don't have it and angry someone else does. lol
1 person likes this
@porwest (58603)
• United States
22 Sep
There are those who like paychecks and there are those who like money. Those who like paychecks work and those who like money invest. I don't remember who said it, but they are words I live by.
1 person likes this
@NJChicaa (108725)
• United States
22 Sep
I’m afraid to look at my 403(b)
1 person likes this
@porwest (58603)
• United States
22 Sep
lol. Hey, look on the bright side. Like I said, the only direction the stock market ultimately goes is up. So, by the time you reach the finish line you will be fine, and so long as you are continuing to contribute now—you will do even better. The day to day does not matter nearly as much as the end result does.
1 person likes this
@yoalldudes (32701)
• Philippines
23 Sep
The stock market is upsetting. But then once the 3Q earnings is released I hope it will adjust to our advantage.
1 person likes this
@porwest (58603)
• United States
23 Sep
The important thing is that right now is a very good time to be buying more. I always say never stop buying, up or down, but certainly buy more when things are down. But of course, only solid companies.
@yoalldudes (32701)
• Philippines
24 Sep
@porwest I have a little cash position. I hope to make the most of it.
1 person likes this
@LouAvul (1147)
22 Sep
Same here but I don't like seeing the red loss numbers every day, even though it's not a real loss yet. Hubby keeps telling me to hang in there until the November election
1 person likes this
@porwest (58603)
• United States
22 Sep
Do you ever do any shorting?
1 person likes this
@porwest (58603)
• United States
23 Sep
Hey, you never answered my question.
1 person likes this
@LouAvul (1147)
23 Sep
@porwest I was asleep since 2 pm yesterday, exhausted after playing cards. No, I haven't done that.
1 person likes this
24 Sep
Stock markets are risky.hence we need to go with long-term.we cant do shortterm with the stock markets..until we havea good knowledge with graph studies and on company too.
1 person likes this
@porwest (58603)
• United States
25 Sep
I agree. You don't buy stocks. You buy companies. And you have to do a lot of research and keep up with it to mitigate as much risk from the process as possible.
@marguicha (193480)
• Chile
22 Sep
When I was young I invested most of our savings in the stock market while my husband got a good stable job in a big recession we had. I learned a lot and was able to retrive all the money we had lost from a house we had to sell.
@andriaperry (114860)
• Anniston, Alabama
22 Sep
I'm not into that at all. Hope you do good though.
1 person likes this
@porwest (58603)
• United States
22 Sep
Most people aren't. That's why some people are rich and most people are poor of course. lol
@LindaOHio (104159)
• United States
23 Sep
I hope that you win in the end. You know what you're doing; so I have no doubt you will come out ahead.