Your biggest Corona mistakes:

[Anonymous No.18333916]

Share the biggest financial mistakes you've made during the Corona Crisis (so far). I'll start:

>realize back in early February that Corona-chan will absolutely rush over the globe now that the revised R0 data is confirmed
>want to profit
>too lazy to buy large quantities of masks, also slightly paranoid they might get confiscated
>know nothing about stocks, I just come to /biz/ for the memes, don't know how to "short", the brokerage that is attached to my regular bank account can only buy/sell stocks anyways due to the "low risk pledge" I selected when I opened the bank account (don't ask, it's some weird government regulation)
>not sure if crypto will go up or down ("store of value thesis" was still considered a possibility at that time)
>ponder buying gold but don't commit
>the only thing I'm absolutely certain of at this point is that 100.000s of people will die from the Corona virus
>What stock can I buy that is guaranteed to go up when much more people die than usual?
>sudden spark of genius
>type "public company funeral" into google
>Google results shows Park Lawn Corporation
>perfect!
>buy 18.000€ worth of their stock at 23$ price (this is half of my net worth)
>now I just have to wait in my bunker (have prepped pretty decently, can survive until August with 0 human contact) and watch the price go up
>shit finally hits the fan in March
>go to my account to watch my gains, didn't even have to short hehehe
>Park Lawn Corp (PRRWF) somehow down 50%
>AAAAAAAAAHHHHHHHHHHHHHHH
>apparently in the bizarro world of the stock market a company that runs cemeteries and crematoriums LOSES value when more people die
>If I had bought 18.000€ of Boeing on that same day I'd be down less

Just coof the virus directly into my throat please, I give up.

[Anonymous No.18333951]

>>18333916
I didn't fail as hard as you did
But my main learning is
Knowing shit doesnt do anything
YOU HAVE TO ACT
even through resistance
e.g. get a new trading account, get verified on a new crypto platform and so on

[Anonymous No.18333976]

>>18333916
My past thought me that.
I purchased about 0.5 of bitcoin for $80
I would have bought 2-3
But I was too lazy to look for another platform and $80 was the limit that the one I found was accepting in credit card payments.
Would I have wired cash in or found a better way to pay for it, I would now have $10-15k more

[Anonymous No.18334013]

>>18333916
Ive been investing in stocks for about 2~3 months now, in a country were 90% of people dont know what stocks are so im pretty disconnected from economics. My biggest mistake was not selling as soon as i started hearing the word "coronavirus" on the news.

The good thing is, i bought every dip and i almost cut all my losses as of today.

[Anonymous No.18334014]

>>18333951
Yes, exactly, I see that now. That was an expensive lesson though. What really bugs me is that I did much worse than people who thought the virus was nothing and just continued buying blue chips all through February...

[Anonymous No.18334044]

I bought a bunch of crypto on credit card expecting to take the next year to pay it off. Now this virus shit has me spooked and my father died so I have to front even more money I don't have.

DESU I think I fucked up.

[Anonymous No.18334127]

>>18334044
Sorry for your loss.
It sounds shitty but maybe you can undo the damage with the inheritance and then never buy something on credit ever again

[Anonymous No.18334165]

>>18334014
You went all-in on a super small company. You could have 10x or go down to nothing.
I wouldn't have had the balls unless I were directly involved in the business.

[Anonymous No.18334362]

>>18334165
I didn't even factor in the size if the company. I simply bought it because it was the only company I could find that operates cemeteries. Apparently there's many more but I did a bad job on that Google search.
I still don't fully understand why they tanked even harder than the rest of the market (and haven't recovered at all) even though on paper they should be one of the few industries (aside from medical supplies and groceries) to profit from the crisis. I could have diversified but I was too greedy and stupid.

[Anonymous No.18334917]

>>18334362
>Investing half of your liquidity into something you have no idea about.

NEVER GMI

[Anonymous No.18334942]

>>18333916
Thinking Bitcoin would never go over 100 Bucks back when it cost 20.

[Anonymous No.18334964]

Turned 4K to 640$ by riding SPEX/AIKI -> MFA -> LK into the fucking ground. At the beginning of Feb I was up to 9k profit for about fifteen minutes. I felt rich and then the world ended.

I’ve at least learned a hard lesson. Don’t keep riding down a stock that loses 20% a day for six days and then yolo the rest into even stupider high risk bets

[Anonymous No.18334970]

>>18334942
And not buying because poorfag (was in an apprenticeship)

[Anonymous No.18334984]

>>18333916
Waited to respond to a guy for
>20 minutes
and the dumb motherfucker sold a St. Gaudens double eagle in MINT STATE for $350. It's worth $1600 MELT. AND I MISSED IT.

[Anonymous No.18335008]

I'm not fucking selling in a crisis
Half my folio is rental real estate, I'm banking in the money printer covering the payments just like last time
Or I'm pretty fucked haha

[Anonymous No.18335024]

>>18334970
Also, listening to my then economics teacher about how investint 3000 bucks into some stock is risky with no experience. I had that money from a one time job for my dad at 14. Would have invested in AMD back in 2009.
Yeah fuck me, still a poorfag.

[Anonymous No.18335046]

>>18333916
> he didn't think of prisoners digging up mass graves at an isolated island

[Anonymous No.18335065]

I bought sqqq and I'm still holding

[Anonymous No.18335167]

>>18333916
My biggest mistakes were buying puts February on southwest instead of an international airline, and buying puts on Wynn instead of a cruise-line. Also shorting semiconductors at all was a mistake, i tried to do this because they started going down later and their IV was lower than other sectors.

My mistakes were essentially failures of imagination(right idea but could have picked better stocks) and lack of conviction (could have bought a lot more puts). I got out of a 20 grand hole with plus 10K though.

[Anonymous No.18335341]

>>18333916
Damn OP, the truth is your stock dipped probably because all the lockdowns have led to less risky behavior and overall deaths are way lower than normal as a result.

Here's what my dumb ass did.

>Late February, been following Corona, realize it'll be bad
>Dow drops 1,000 points in a day from 28k to 27k
>Immediately sell most of my stocks for 5k
>Keep Chevron stock which was still 100 per share
>Decide I'm going to reinvest the 5k to profit.
>Hear about a promising shitcoin
>put $200 into it from old crypto holdings
>it performs well
>over a weekend it gets over 50 cents per token
>Fuck I need to buy shit shit to get rich
>it dips
>5k moved into my account
>use money to start buying promising token
>dump a few thousand into it as it falls from 45 cents to 35 cents
>watch it bottom out at 12 cents and no more money to invest
>just trying to break even at this point

Good news is my crypto is starting to perform, and I do think I will ultimately profit, I just think it's gonna be a while

[Anonymous No.18335358]

Not buying even MORE bitcoing back on March 12

[Anonymous No.18335434]

>>18334917
>what is BTC
>what is ETH

[Anonymous No.18335477]

>>18335341
>I just think it's gonna be a while :^)
The COPE is so thick you can cut it with a knife.

[Anonymous No.18335541]

>>18335477
unironically it's a good shitcoin and I know I will profit I just bought at the end of the first major pump. It would be like buying Bitcoin for $1000 in 2013