Quote Originally Posted by mr noble View Post
SMT has been a disaster to be in for the last 8 days.


60% of my entire holding and currently more than 23% down.

Totally stuffed my plan, which was to wait out the probable jump up when the new Biden stimulus arrives, and then sell out to cash and await the storm.

The storm came early and now it's too dangerous to sell in case you miss the hops back up, which with SMT can be 10% in a day, and the same the day after.


Bullocks.


Need to keep thinking about it in percentage terms as the amount in cold hard £££ is eyewatering. Not far off 10 years of pension contributions wiped out in 8 days.


The SMT chat boards are awash with people saying things like, "I had our entire mortgage deposit for a house in SMT and now its 25% gone..."


Just goes to show how quickly things can turn.
Sorry to read that; a 23% drop now requires a 30% gain to recover ....

The only thing I have learned over the last year is it is impossible to time markets and so I'm building a diversified portfolio and I'm going long ...

Unless you want to make trading your day job investment is not an amateur activity. You can build a sensible pension pot through a diversified portfolio of assets and funds and not have to be a (day) trader.

I could not imagine the stress of having a 6 figure sum that represents a big chunk of my SIPP in a single stock or investment trust ... even less so one that is highly specialised or focused.

I admire the nuts of those who are willing to make such bets but to me it seems like the road to ruin more often than not.

Good luck all.