- So initially, I had all the money in mutual funds and made about 12% from July 2019 to March 2020. The investment was about £50000
- Then with the initial Covid shock, I panicked and took out all the money and maintained cash position till April 2020
- About August 2020, I started investing in Call options in mostly growth stocks and the portfolio zoomed to 150% by Feb 2021. I remember the date 12th Feb when I had the highest gains.
- Then the portfolio crashed and my profits came down to 70%. I started averaging down in Zillow, Baba and JD thinking they will eventually go up.
- It kept on falling, by June 2021, my profits were 0-5%. Then I sold all my Call options in growth stocks and bought call options in PayPal, Docusign and FB.
- Baba, JD and Zillow which made up my 70% of the portfolio became worthless day by day
- The portfolio kept on dropping and now I am down by almost 70% of my initial invested amount. My portfolio shows about £20000
- It hurts to see the loss of hard-earned money. I got carried away with my genius gains of 150% in 2020.
- Now, my aim is to recover at least my initial investment but I don't want to deal in Options. But, I can't see how can I make gains in a reasonable time without dabbling in Options.
- I feel particularly unlucky because what I thought good stocks became worthless e.g. BABA, JD, Zillow, FB, PAYPAL, DOCU
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