Dear All,
I’d like to begin by expressing awe at the magnanimity with which knowledge, wisdom and experiences are being shared on the forum in general. It’s astonishing that despite being strangers we are concerned about one another. It’s worthy of applaud.
Today, after a reduction of almost 2.5%, the small cap index is down almost 25% from the peak.
There are stocks that have eroded more than 50% of investor wealth from the peak.
To members who’ve witnessed previous bear markets it may not be unnerving. I have no hesitation in admitting that I’m a product of the bull market.
And, I am scared. The thought of never recovering my principal amount sends a a chill down my spine. It’s my first exposure to such sharp falls. And, I wasn’t prepared for it.
Members have astutely remarked that this suffering will help improve our investment strategies.
I’d like to humble share my thought that it’s crucial to make amends to our strategies. But, it’s equally important to salvage ourselves. Such catastrophic losses possess the potential to change our very being. It possesses the potential to make us feel empty, listless, aimless. It’s just the beginning and it’s brutal.
To overcome this gloomy state of mind I tried to search for some help on the Internet. I did find some helpful content. I’ll try to be brief and list some points. Hope it helps.
A) Confront the loss
When we incur a loss, in any sphere of life, we often try to numb our grief, pain. As much as we try we can’t run away from grief. Only when we acknowledge our grief can we overcome it.
B) It is okay to grieve
It’s crucial to find an outlet for our suffering. Grieving is step in itself to overcome grief.
C) Share your thoughts with others
Sharing often lightens the burden on our shoulders. Being supported by family and friends is a morale booster.
D) Have no regrets
We made some investment mistakes. We learned a lesson the tough way. But, forgive yourself. To err is human. Don’t dwell in the past.
Don’t focus on what could have been done. Focus on what can be done. Focus on now.
E) Take care of your health
Loss of health is far worse than the loss of wealth. Don’t let this momentary difficulty ruin your health. A healthy mind resides in a healthy body. Take care of yourself.
F) Be patient
Overcoming turbulent phases takes time. Healing can be a long, long process. But, don’t give up on life. Be optimistic.
G) Distract yourself
Indulging in activities like walking, writing, painting can distract our mind from the loss. There’s much happiness in the simpler pursuits of life.
I’d like to explicitly mention that I’m not a counsellor, therapist, etc.
I just wanted to help as a friend. As someone who’s trying to survive the meltdown.
I do realise that my post may not be congruous with the theme of this thread. But, please bear with me.
Hope it helps.
