European and North American markets are WAY down today. To tell you the truth, I haven’t really been following the markets too closely of late, although I have heard a lot of grumblings here and there and a noticed a few blog posts about it; however, because I don’t follow what the markets are doing every day, the fact that the S&P TSX Index Composite fell 500 points doesn’t really mean that much to me. For all I know, it could have been up 500 points last week/month and so all that really does is wipe a weeks/months gains. Ignorance is bliss.
No changes here in my investment strategy. Our RRSP monthly contribution amounts have been the same since last tax season when we adjusted them based on our 2007 incomes and they will continue to remain the same until June or so 2009. Every time my portfolio or my wife’s contains more than $2000 cash, we buy some more of the ETFs that we already own. No surprisingly, since our portfolio is 25% bonds and 75% equities, we haven’t purchased many bonds recently, since equities have performed so poorly, we have been underweight in equities in recent months.
I’m looking forward to the next bull market and remaining fully invested (only in low-cost index ETFs) until then.
One thought on “Bad Day on the Markets”
I have to agree, everyone is freaking out – I am very excited yelling “Stocks for sale” !!!
I mean, many of the ETF’s I own, are now selling for prices that were seen back in 2006. I think this is a major buy opportunity. Since I was planning on staying in the market for at least 10 years anyways, why not purchase more at a discount price?
Time to buy I say.