I know what you mean. For eg The recent drawdown in Neuland labs was tempting for me. In fact whenever chemical companies or pharma companies fall I get excited the most. I’ve imparted a few tricks to get me to ignore fomo and all of the noise in the market since it feels like there are “can’t be missed” options every day.
- Invest heavily into one company per sector and overallocate in favorite sector:
I have removed all chances of me even investing in any pharma and chem companies due to my huge allocations in Laurus, Deepak and Ingrevia(I have cheated a bit and considered this as life sciences and not chemical lol… It was too good to miss out on at 241 Rs). I Dont think il be able to add another share in pharma/chem for another few years since those will remain overweight in my portfolio for a while.
I basically have pharma, chemical, Fmcg, banks, nbfcs, IT Bfsi, renewables, railways, Reit/Real estate, B2C Platforms, B2B platforms, Invits all blocked now regards new companies so I have to look elsewhere(or within my portfolio) for opportunities and it helps expand my knowledge about other sectors and improve my knowledge about my PF companies if nothing else(if there’s a dividend play involved I allow it for eg oracle and Intellect and I would love another Fmcg company alongside ITC too. If something unbelievably low valued like ingrevia pops up then that’s fine too)
- Keep a list of sectors I always want to ignore:
I’ve put all of steel/sugar/oil and similar commodities on this list and I’m not a fan of auto(except for a few Ancillaries), telecomm and airlines. So I just ignore anything in this sector(I recently got a bit interested in godawari and then watched it crash due to iron ore prices and realised I’d never be comfortable there). I may come back to these later after I feel my portfolio is complete with the sectors and allocations I want but I’m years away from that.
- Keep a list of sectors that I’d want to probably invest in:
I’m currently studying the following spaces: AMCs and Insurance, Consumer Durables(electronics), IT Services(non Bfsi) , Entertainment, Textiles(ideally with an apparel line). No other sector apart from the ones I own and these excite me as of now so I can concentrate and learn as much as I can here. I have already shortlisted some companies here but i don’t know if and when il ever invest. Again, this isn’t fixed. If I get something really unbelievably cheap in another sector I’m willing to take a bet at times(real estate was in my no go list until Embassy came along for eg)
With the above rules in place the stock market becomes a small manageable space for me to work in. I’m probably missing out on a lot but if I look at everything I feel il gain nothing lol.