One of my colleagues shared with me he had sold some of his US stock holding & incurred a massive 6 figure sum losses.
He lamented to me the huge drop in Dow Jones caused him to panic & he had never see such a huge drop in DJ & oil prices in a single day before.
However, he is still holding AIG, Citibank & Shell which is now had 60% unrealized paper loss.
I advised him with disclaimer to keep his remaining US stocks since is already down 60% & prior to the huge market correction, he is already holding to these stocks since 2009.
He also liquated all his SG stocks from 10 March to 13 March after the so called US black Monday on 9 March & showed me his transaction records.
I was puzzled on the 2 stocks he sold: DBS & UOB.
He had bought DBS & UOB using cash on 5 March, 2020 but sold them at a loss on 13 March, 2020.
My colleagues told me he is running low on cash & need cash on hands so he sold all of his SG stocks & the massive losses from his US holding also prompted him to sell but according to him ,he still have $80k in Singapore Savings Bonds.
To my surprise, he told me he had bought 3 SG stocks on 16 March,2020
In my opinion, this is a panic mode & i am not saying what he did was wrong as everyone had a different approach to investing, on the contrary, I presenting a case study for reference in this post for sharing.
He lamented to me the huge drop in Dow Jones caused him to panic & he had never see such a huge drop in DJ & oil prices in a single day before.
However, he is still holding AIG, Citibank & Shell which is now had 60% unrealized paper loss.
I advised him with disclaimer to keep his remaining US stocks since is already down 60% & prior to the huge market correction, he is already holding to these stocks since 2009.
He also liquated all his SG stocks from 10 March to 13 March after the so called US black Monday on 9 March & showed me his transaction records.
I was puzzled on the 2 stocks he sold: DBS & UOB.
He had bought DBS & UOB using cash on 5 March, 2020 but sold them at a loss on 13 March, 2020.
My colleagues told me he is running low on cash & need cash on hands so he sold all of his SG stocks & the massive losses from his US holding also prompted him to sell but according to him ,he still have $80k in Singapore Savings Bonds.
To my surprise, he told me he had bought 3 SG stocks on 16 March,2020
In my opinion, this is a panic mode & i am not saying what he did was wrong as everyone had a different approach to investing, on the contrary, I presenting a case study for reference in this post for sharing.
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