Welcome to this week’s portfolio update!
The markets were very unkind, yet again last week!
Particularly for tech and growth stock-heavy portfolios such as mine.
Here is real-life footage of me trying to hold my stocks through this correction:
Seriously though, I welcome this correction!
I’ve been talking to my Private Stock Group members for over a month now about how valuations across pretty much every single market sector were at ridiculous levels, and that we shouldn’t be scared of taking profits on those big gainers we’d seen throughout the year.
I also gave the suggestion to consider building up on cash reserved to capitalise on any upcoming dip.
Fortunately we did just that!
We locked in the following profits on these stocks:
As we’ve seen though, no one is immune from the markets when they decide a correction is needed and they take a dive!
However, this has created immense buying opportunities and I have been posting an ever-growing list of buy opportunities in the Private Stock Group every few days which includes justification, target price, time-scale of opportunity, etc.
So, the following few weeks and months are going to be ones to watch! It’s these tough times that will separate those who are in the markets for long-term wealth from those who just want to spin a quick profit.
Anyway, let’s get stuck into this!
The platform I use is called Freetrade. If you want to sign up and get started with building your own portfolio, use this link and you’ll get a free share worth between £3 – £200!
Last week was another which closed in the red!
Week open: £8,910
Week close: £8,330
The markets have NOT been kind to say the least!
However, selfishly hoping that these prices hang around while I accumulate more capital to invest in the market!
Let’s see what happens this week!
I blew all my remaining capital on stocks which were way down last week. Never seen buying opportunities like it, so this is not surprising or concerning!
The account was way down vs the wider markets dip.
This is something I need to work on ongoing to ensure I’m less susceptible to these testing times whilst still getting the exposure to high growth stocks that has given me the long-term market-beating gains I have seen.
A difficult balance to strike, but we’ve all seen which stocks have faired better during these times.
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Another rough week! But this was much needed in order to bring valuations back in line with earnings and outlook.
As I said in last week’s update, stocks don’t just go up!
Thanks for reading this weeks update!
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Let’s have a great week!
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