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Why going through a market downturn early in your career is one of the best lessons ever
By Finance and Toast  •  January 15, 2021
2020 was the first year I experienced a major market downturn. Stock prices slid rapidly, and I saw my paper gains quickly turned into paper losses. As much as I can be reminded of Warren Buffett’s quote of “Be greedy when others are fearful, and be fearful when others are greedy.”, in reality, it is not so simple. I faced two dilemmas during the market downturn. “Should I sell now when I am still making a profit albeit a reduced one?” “Should I buy more given that I know the fundamentals of a particular company is good but the whole world is panicking and I do not know how much lower it will go?” I made the amateur mistake of both. Which is 1. to sell existing stocks the moment markets recovered with a reduced profit as compared to pre-COVID prices, and 2. not buying...
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By Finance and Toast
Hi, my name is Vincent and I’m the founder of Finance and Toast, a website which aims at documenting snippets of my life and also all things related to personal finance and investments. I started this website as a platform to share investing ideas with like-minded individuals. I was interested in the stock market since the age of 18 and I enjoy understanding more about different investment philosophies and its unique way of looking at things. I love contrarian ideas and am fascinated by well-run companies and leaders.
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