Trials and Tribulations: Three weeks and 30%

Tuesday 17 March 2020. As I write this, it has been approximately three weeks since the market started to drop and since then my portfolio which is largely index based, has dropped roughly 30%(T＿T). Yesterday marked the biggest fall in ASX history at 9.7% and overnight the SP500 lost 12%. Trading halts and massive swings used to be rarities and are now commonplace. The volatility index has risen to 80 and panic has thoroughly set in amongst the broader population∑(￣□￣;). Self doubt has started to creep in on me but my resolve still holds firm. I decided on this course of action four months ago and I intend to see it through to the end._(:3」∠ )_

Indubitably mass hysteria has set in to the general populace, far beyond the financial markets. It is one thing to hear about panic buying of essential goods on the news and another to witness the apocalyptic sight of empty shelves in the supermarket first hand(。•ˇˍˇ•。). Thankfully my household has a heathy reserve of basic necessities. My workplace has not given a directive to work from home or self-isolate, but our organisation appears to be the last stand in a derelict skyscraper. Most of my colleagues are on edge but management refuses to consider the welfare of staff and would rather focus on the bottom line（╯‵□′）╯︵┴─┴.

In the news, I am constantly bombarded with news that large institutional companies like Qantas or UQ are on the verge of going bust as well as predictions of long standing recessions which will take up to ten years to recover from (Deloitte). People whom I respect greatly are predicting a permanent shift in society with far reaching consequences for the long term future and my learnings on holding steadfast to contrarian beliefs are being well and truly tested.( •̥́ ˍ •̀ू )

Only time will tell if I have made the right choice in sticking to my plan, otherwise it will be a very costly mistake indeed.

By 小福