I took some positions in DBS and OCBC last week to get some bank stocks exposure in Singapore when the market fell badly. I started asking myself over the weekend why I was doing that if I’m on a current ETFs and individual stocks averaging down strategy. Not supposed to have any more new individual stocks exposure but I couldn’t resist buying the bank stocks then.
So I took the opportunity with the market rebound today to offload these bank stocks positions at a small profit. It’s a stupid move to strategy shift now just because prices of bank stocks are low. I haven’t done any research into them and assessed how badly the Covid-19 situation can impact them. Just bought them because their prices dropped quite a bit.
You see how bad of an individual stock investor I am. Which is why I keep reminding myself to stick to ETFs. I can average down on ETFs as long as I have selected them well upfront.