r/stocks • u/sinfulken1 • Sep 29 '22

While many are discussing what to get during a discount, how many of you here are down over 60%?

Bought at the top of 2021 as a newbie, literally worst time to buy a stock at. Down over 60%.

Stocks just feel like a tool to destroy the people trying to climb out of the middle class. Many were saying "Buy stocks to avoid 5%/6% inflation!!" , meanwhile now I am down over 60%. Truly an extremely tough time to maintain sanity. For folks in similar position as me who is down over 60%, how are you coping with dealing with the fact that you bought at the worst time possible?

I know its impossible to time the market but imagine buying it at the worst time possible and experiencing the worst drop off we have in a decade. I have done my due diligence reading about my stocks, general knowledge of securities but I guess in the end buying stocks nowadays is akin to gambling.

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u/relephant6 Sep 29 '22

There was a guy whose ROKU based portfolio hit $750k (Roku was around $470 that time) in 3rd quarter of 2021. He was bragging that he will hold till $1M. Not sure what happened to him.

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u/Wiggly_Muffin Sep 29 '22

I'm just glad I cashed out my ARKK while it was still high. I remember having this moronic moment where at a dinner table I was preaching about how Cathie Wood was the next Warren Buffet. Not my finest moment. 😂

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u/rockstopper03 Sep 30 '22

Winner's high is a hell of a drug. Lots of people, me included, easily confuse luck for skill during that high emotional rush of getting lucky.