Its the only mental way to think. Nothing has changed. Granted things may be uncertain - but are they ever totally certain? Never.
Ben Graham wrote about it and Warren Buffett lives by it - getting scared when others are too, you will never make money in equities. A concept of following the herd.
The stock may drop again tomorrow or the day after that - but they will not drop forever. We should not expect prices at a particular point of time in a day dictate what we should or should not do. What counts, especially for value investors (which appears to be the good folk on this and the CHO thread) is buying a good business at a decent price and forgetting about it. Time is the friend of the wonderful business, the enemy of the mediocre. A time tested principle a value investor should never forget, particularly in deep dark moments.
ARG Price at posting:
$6.00 Sentiment: Buy Disclosure: Held
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