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Stocks crashing, strategies changing, NFTs booming

Uncategorized Feb 27, 2021

Hey everyone!

This was quite the week for sure. It’s likely your portfolio went down quite a bit, just like mine. Pretty sure I’ve had my worst week and worst day in investing so far. But I’ve ‘only’ been investing for a little bit more than one year now.

I think in times like these it’s good to zoom out. Many people just look at the daily price action, or maybe the price action of the last couple of days. But how has your portfolio grown over the last year? Especially if you’re a long-term investor, one day, one week or even one month of price action doesn’t really matter. Zoom out and you’ll likely see (very) green numbers instead of (very) red numbers.

Personally, I saw this as an opportunity to buy the dip. I added a bit to some of my long-term holds and notified the Discord premium members. Next week during the livestream on YouTube I’ll do another portfolio and business update to show you where things stand right now.

So why did this dip, or maybe some will call it a crash, happen exactly? Well, I’m not a macro-economy guy and I still find those things very hard to understand, so I won’t try to explain it myself. I’d recommend you to watch Meet Kevin’s explanation and Cathie Wood’s explanation. They’re going to do a way better job than I would.

One of the most important videos I made this week, was probably the video about CFII/View. It might not necessarily be the best video or the video that will get a lot of views (no pun intended), but the message is important. It’s something I need to do more often as well. It has to do with looking at your stocks from a bearish point of view instead of just the bullish point of view.

Many people, when they buy a stock, only think about the positives. When others start raising issues about that stock, they feel the need to defend themselves. I think this is entirely psychological but also normal and human. The thing is, when you buy a stock and others tell you it might’ve been a bad move, you usually don’t want to admit that you might have made a mistake. That’s why I’d tell you: try to have an open mind. Try to let go of your feelings and just look at your portfolio in an objective way. What are the advantages of the company you’re holding? What are the disadvantages? Is there something to worry about? And if so, does that change your investing strategy?

Don’t be afraid to change that strategy, especially in the beginning of your investment journey, when you’re more likely to make mistakes. I made a lot of mistakes myself as well last year, and I still make mistakes. A few months after I started investing, I already was day trading COVID stocks that went up and down 50% in a day. I looked mainly at technical analysis and not so much at the fundamentals or the valuation of a company. I looked at the stock prices and not at the market caps. If I wouldn’t have changed my strategy, I’d probably still be doing all of that.

Yesterday I also had another interview. This time with a subscriber who knows a lot about the bioeconomy. I actually really enjoy doing these interviews. I learn a lot and it’s just fun to chat with people as well. The interviews usually don’t get a lot of views on YouTube, but that’s fine. I want to give other people a platform as well, even though my platform isn’t as large just yet. So I’ll continue to have chats with people. By the way, if you know a lot about a certain topic, stock or cryptoasset and if you’d like to chat with me too, let me know! I’m always in for a talk!

The last thing I’ll talk about is NFTs, again. Last week I already mentioned them but I do think they will become big. I haven’t explored them myself yet because I’m not sure if it’s going to be part of my personal investment journey, but if it’s something for you, definitely dive into them. People like Gary Vaynerchuk are making a lot of noise about NFTs and I think they will continue to get a lot of hype, especially when you see NFTs sell for millions of dollars.

Thanks again for being with me on this journey. I wish you a beautiful weekend ahead!

 

- Wiebe

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