Stock market prices declined sharply today since the US Federal Reserve pessimistic announcement on weak economic outlook. It seems to have burst the euphoria stocks bubble that has been defying gravity since May'20. The Fed expects US unemployment level to stay high and will be keep interest rate the same till 2022. Will this be the start of the second market crash predicted by many experts and the end to the feared "Sucker's Rally"?
Well the truth is that no one really knows. I have remained mostly invested in the market despite taking heavy beating from the COVID-19 pandemic that lead to huge losses during the dreaded month of March 2020. But I took the opportunity to diversify some of my portfolio into stronger counters such as Mapletree Commercial Trust, Suntec Reit, DBS and OCBC which presented rather attractive entry price.
Some misadventures in my investment journey happens along the way- the receding tide caused by the pandemic induced recession ultimately revealed who has been swimming naked.
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