The past few days has been a terror in terms of the swift downslide of stock value. My portfolio was hit pretty hard, especially with the foreign exposure from Alibaba, one of my favorite stocks.
Alibaba had dropped from a high of $210 to an astonishing low of $143 yesterday, causing the overall portfolio of my stocks to drop significantly. I wouldn't deny that it stopped me in my tracks for awhile.
However, I remembered the old adage to buy when others are fearful, and looked into Alibaba again. While there have been some changes that might affect its rockstar growth, the stock value at such a low gives a great opportunity to enter into it again. I have increased my shareholdings there by 33%, and will buy perhaps even more once I have more holdings. Should there be an even bigger downturn, I will take the opportunity to load up on Alibaba for the rest of this year, as previously mentioned.
Other consideration for purchases are adding into Fraser's, and into Design Studios. I still believe that Design Studio is a great play going forward, but I would rather add more into Alibaba at the moment.
Cheers.
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