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Gettingthere67, corrections are inevitable and healthy. That the DOW and NASDAQ have been breaching all time highs is both worrysome and encouraging in equal measure.
Part of the fall was in response to the potential for the Middle East skirmish to escalate but a far greater part is that the FED is unlikely to lower interest rates in early course. Some commentators are suggesting December. The UK also seems to have cooled on interest rates and a May cut seems increasingly fragile.
These are powerful headwinds for substantial companies and are really troubling for smaller ones.~
We have at the moment a UK Government on its last legs where local elections in May might give some flavour of the sort of bloody nose that might be expected in a General Election. I've always done better with Labour in office than I have with a Conservative administration.
This is not the place to discuss politics, except as it applies to equities. Sunak was a better Chancellor than he is as PM and frankly Coco the clown would have been better than Kwartang, hence we have Hunt at the tiller.
I should just add that I think - and hope - many if not most of these US tech stocks should recover soon - as their fundamentals are sound (and as long their next ERs - which are soon - will be good or at least OK).
Yesterday was a very negative day for US tech stocks.
I had only a relatively small holding left in SMCI - but the sp went down by over 23%.
I no longer hold any NVDA - but its sp went down 10%, and ARM Holdings (based here in the UK) shares went down almost 17%. A huge correction for these tech stocks.
Whether they will recover soon - or continue falling - I don't know. And the repercussions for the rest of the market - and shares such as MV - seem uncertain for now.
I wrote: "US tech stocks - whose sp rose a good deal in the last two months."
That should read: "US tech stocks - whose sp rose a good deal in the last four months."
I had great hopes for MV sp - but it has been disappointing. I am no longer invested here - but am thinking whether this might be a good time to invest again.
I am learning it's best not to be too wedded to any particular stock. I did well with investments in US tech stocks - whose sp rose a good deal in the last two months (though there has been a significant recent pullback) - shares such as SMCI, Dell, Oracle, even (at one point) SOUN - and (only partly AI-related) HIMS, the latter a company with great potential IMO.
I now only have about a quarter invested in these stocks as I did about say four weeks ago (when they were at a peak) - but I stayed invested to this extent as I still want to have some 'skin in the game', so to speak. By not selling all say a month ago, I have probably lost about 15% or so of my total recent gains - but that feels fairly OK.
I did keep investing in MV - but sold each time as sp fell a lot - then investing proceeds in these US stocks, which, as it turned out, did do well. I'm wondering now whether to invest again in MV - the sp does seem cheap (or at least low) right now...
I wrote: "US tech stocks - whose sp rose a good deal in the last two months."
That should read: "US tech stocks - whose sp rose a good deal in the last four months."
I had great hopes for MV sp - but it has been disappointing. I am no longer invested here - but am thinking whether this might be a good time to invest again.
I am learning it's best not to be too wedded to any particular stock. I did well with investments in US tech stocks - whose sp rose a good deal in the last two months (though there has been a significant recent pullback) - shares such as SMCI, Dell, Oracle, even (at one point) SOUN - and (only partly AI-related) HIMS, the latter a company with great potential IMO.
I now only have about a quarter invested in these stocks as I did about say four weeks ago (when they were at a peak) - but I stayed invested to this extent as I still want to have some 'skin in the game', so to speak. By not selling all say a month ago, I have probably lost about 15% or so of my total recent gains - but that feels fairly OK.
I did keep investing in MV - but sold each time as sp fell a lot - then investing proceeds in these US stocks, which, as it turned out, did do well. I'm wondering now whether to invest again in MV - the sp does seem cheap (or at least low) right now...
Market gains, and in particular tech led ones in America have had a spectacular 6 months that began in October and lasted right up to the end of March. All that is happening IMO is a correction which, coupled with the FED dismissing prospects of an early interest rate cut, geo-political problems in Middle East and the callous behaviour of the Republican Party in USA in the procrastination of support for Ukraine has seen a sharp drop as investors bank profits.
This is, although painful in the short term, to be welcomed (again, my opinion) because as markets hit new highs, so it iw worrysome and encouraging in equal measure. Growth was confined to a few companies but is now beginning to broaden and, in time will extend to the smaller and smallest companies.
'fraid it is a situation where keeping a cool head is needed, doing nothing and sweating things out, sensible and for those fortunate to have spare funds on the side being able to cherry pick new investments or strengthen existing holdings if appropriate.
In times such as this, I compare an acorn with an oak tree and remind myself that the acorn has greater potential than a mature tree. For myself, from being up 12% at the end of march, I am up just 3% today and although currently sitting on 1.5% cash not sure that the turbulence is over quite yet.
"Markets can be irrational for limited periods of time..". Dead right, and London in particular has been more irrational than most for the last few years. Hopefully the tide will turn soon but I would not hold my breath. There is far too much uncertainty with respect to current and potential future conflicts, and pending elections in many countries.
Which portfolio companies are struggling? Even graphcore will probably hold it’s value for us.
SO why the 2/3rds discount to NAV/share? For my money an anomaly that will correct itself in due course. Markets can be irrational for limited periods of time -especially for specific shares such as ours with subjective hidden valuations to worry punters.