Down over $80K in stock investments & looking for advice
So I messed up big time in stocks and have put around $140 in the market since end of 2020. The current value of my portfolio is around $70K (over 50% unrealized loss atm). I am more than $40K down in several hopeless stocks like PLTR, SOL, SKLZ, DKNG, AI, Open, NIO, and SPCE alone. I don't see them coming back even close to the price I bought them for. At least not in the next 5-6 years. That's given if they survive the market downtrend. How it happened? Didn't happen overnight. I made some bad investments, most right when the market was at its peak and just kept averaging in hopes of some revival which never happened. I didn't set tight stop losses and was averse to selling at any loss. Took some crapy advice as well. I have invested anything further since last few months and before I stopped, I did shift my investments into some ETFs like QQQ, VOO & VTI, which are down too with the market but I am not worried about those as much. The impact This is not only financially constraining but it has shaken my confidence big time and it a constant source of stress and anxiety. That is on top of patronizing attitude from spouse. I end up worrying too much about it most of the time. All this is on top of my Meta stock grant as part of my offer going down almost 60%. I got in at 340 per share. So a double whammy for me. What I am NOT looking for? a) Further judgement and criticism: I know I made a mess. Didn't do proper research, didn't apply the correct strategies etc. etc. I've done plenty of reflection and introspection over the last many months and not looking for more of it here. b) Cliches/generic guidance/advice: I very well know that what goes down comes up, market won't remain this way forever, it's not a loss unless I sell.. blah blah. Thanks but no thanks. I don't need any of that right now. What I am looking for? a) Are there any stock portfolio consultants or consultancies that I can hire who can look at my investments and provide guidance or simply take over management w/o me having to sell everything for a loss? Happy to pay a price for it of course and not expecting any magic overnight. b) At this point, I am just too fearful of averaging down any further. I have some cash reserve but can't just keep throwing more and more good money on bad money. Has someone gone through something similar before and came out on the other side? How was your experience and what advice would you give others? TC: ~260K after Meta stock collapse #investments #personalfinance
Why are you even working anymore? You slave for Zuckerberg then burn all your cash, literally. Might as well just go to Peru and live in a tribe for the rest of your days chillin like a villain 😎
lol.. thanks! I hope never comes to it.. but if it does, I'll ask from further advice from you on how to go about it
Sounds p tempting no cap
it’s just money you’ll make more
You sound like me, how old are you ?
I am 38 and still learning everyday. This time by taking a brick on the face.
Nice me too, lol… what’s your nw
job hop and get a proper TC and everything else will just look like a bad dream. I lost 50k trading in 2021 and decided to focus on something I’m good at (my job) and my bonuses have made me even and then some, not to mention my career trajectory Read more about macro economic movements and make hedging and bear case analysis part of your investment strategy. Metals are looking good right now for example, but do your own DD to understand why TC: 400k post rsu valuation reduction
don’t look back, only look forward
You’re doing it wrong
Yeah, that shouldn't be too difficult to figure out I suppose
@OaQc07 wow you are so smart 👏
Buy Total market stock index or s&p 500 index. Balance with Total bond market index and total worldwide stock and bond. Over 20+ years it will out perform most active fund managers https://www.cnbc.com/2022/03/27/new-report-finds-almost-80percent-of-active-fund-managers-are-falling-behind.html
This is brain dead NPC advice in this market. Imagine buying total market index between 2001 and 2010. 0% annualized over a decade. Understand the market you are participating in or be at its fucking mercy
Imagine OP doing it at the end of 2020
Sell, take the loss, put the proceeds into an index fund, stop buying individual stocks.
Think the unrealized loss is the fee you paid to learn your lessons sooner. Had you started your investments/learning later when your net worth was higher, loss would have been even higher.
Fair point. Agreed. My focus has been to take it as a painful lesson. What makes it harder is when your loved ones judge you for it and make it more difficult. Taking it as a lesson too.
You still make $260k a year post-crash. You’re fine — the “other side” as you put it is still greener than most people. You don’t have to keep tossing money into the hole. What’s really in store for you in the next 5-6 years that it seems so far into the future for you? It’s really not. You have all the time in the world at this point but you’re acting like you’re literally drowning. Are you just worried you aren’t getting rich as fast as you initially thought? Just for some perspective it feels like you’re manufacturing your own anxiety here… You’re doing fine. You’re doing great. Just take a breath.
Thanks! I agree that it's not the end of the world.. not even close. I try to keep a forward looking mindset but it gets harder whenever chips are down. Its a function of anxiety and worrying.
I'm so thankful that I don't gamble with random individual stocks. Good luck, OP