As a long term buy and hold investor I can image it would be...

As a long term buy and hold investor I can image it would be frustrating if you expect every year to be good.
In my mind your investment horizon should be 5-10 years or longer if you claim to be a long term investor.
In that 5-10 years there will be negative years and some bumper years, if you look too closely you are not really a long term investor are you??

Case and point.
Look at the MSCI World index over the last few decades.
https://en.wikipedia.org/wiki/MSCI_World
An average annual return of 11.27% since 1970... but some years like 2008 was -40%... ouch...
On a $1000 investment in 1970 you would have had a compounded annual return of 9.97% to end with a value of $87,159 today. An increase of 8,715%.

Arguably one of the worst years to have entered would have been 2007.
And you would still be up 173% now at $1730..... however in 2008 you would have sulked at your investment being decimated to $596.

I have long term stock I buy and leave alone and when they go down I just leave them alone because I have a long term horizon on them.
For RHC I was actively "managing" my investment.

Started buying in March 2017 and by June 2017 reached my peak amount of capital allocated to RHC @ $66.38 per share.
I currently hold about 11% of the total of RHC shares I bought since March.
I only recently entered again @ $66.095 the other day when the markets was crashing.

It will be hard to calculate the return on a percentage basis since I had various amounts invested over the course of the year and sometimes was not invested at all.
Some of my RHC trades were at a loss but most were not.

Roughly calculated I had north of 12% return over a 6 months investment period.
Nothing crazy but I'm quite happy with it!

The other 6 months the capital was either in the investment account or invested in other counters.

What's my point?
I guess my point is:
- There was money to be made with RHC over the last year.
- The share market is not a fixed deposit or a bond!!!
- Get your head in the right space - is this a long term, medium term or short term play for you?

In terms of sentiment. I have it as a hold now, but I might change my mind and sell for a nice little 3.6% gain over the last 2 week I've been back it.

Ps. this post above is as much for my benefit as hopefully anybody reading it.