As the STI fell from the 3500 level downwards to the 2800 level, the forums were filled with much fear. Some investors panicked and sold out cheap, while some were making predictions that the STI would head towards 2500 and a few even shouted a 1000 STI great recession coming.
I mentioned a couple of times why I didn't feel it was gonna be as bad as the 2007 GFC, also the market already lost 700 points or down 20% going into an official bear market. There was a very low probability of another 20% decline, valuations were cheap as the STI traded at 11 times earnings and the 2700 European crisis level was a great psychological support.
It was a great time to be picking up cheap stocks, so I took the opportunity to add more in ARA and STI ETF. I mostly bought them towards the 2800+ levels, ......