I chanced upon an article or book (cant remembered which one) titled 'Successful people have no regrets'. Though I didnt read the article but I sort of agree with this statement.
Let me give you an example, during time like this when market was weakened due to potential Fed's rate hike and China stock market crash or any other reasons. It's a good time to buy the market right? Some people will be procrastinating as to 'when' is the good time or best time to buy stocks?
They are worried that if they buy too early, the stock prices could dive deeper due to more incoming bad business news. They want to avoid this and want to sit out and wait for the best time to buy. But what happens if they wait for too long and the stock market suddenly perform a V shaped recovery and they missed the boat? Well, there isnt any best time to buy.
So, when is the best time to buy? The lowest point of the dip and just before the stock market recovers? Well, I am afraid nobody knows when it will be the lowest point till it happens! ie the market recovers and stock analyst will say 'There! thats the lowest point' when its already happened and thats in the past, gone, opportunity lost!
Many a times, you will hear someone with full of regrets and say things like 'Aiya! I missed the boat! The market recovered and I thought its going to drop further!' or you rather be a successful investor with no regrets who will stroke on his chest and say 'Heng ah! Luckily I nibbled and bought some shares when the price was low'
Though I dont considered myself to be a successful investor yet, still learning to be one :)
I gathered that to become a successful investor with no regrets, you buy bit by bit and space out your buys. Some average down when their stock prices fall by a certain margin, others buy consistently across different time frame eg monthly. That way, you will buy some shares when the price is low. Of course, it may not be the 'best' price but at least you bought your targeted stocks during bearish market opportunities like this.
This is just one solution to at least buy bits of shares when market is down and next time when the market recovers, you will be patting yourself on your shoulder and uttered silently that you have done a great job :)
This downturn, I am going to take advantage of this opportunity and definitely not going to be the one who say 'Sh*t! I missed the boat!'