Hanoi Coffee Sharing

  "When to buy" Today, I was asked when to buy from a few people, normally, the answer would be "Now". Is VNI 1500 a buy? Yes Is VNI 1400 a buy? Yes Is VNI 1300 a buy? Yes The answer would almost never "Later". And for current environment, well, the answer is "Fcking now!!! Buy now" Why wait? Because the price might go lower? What if it goes higher? Up to the ceiling for the next 3 trading day, then what? You stay out? It "is" and also "isn't the price that determine why you buy. 1. The lower the price, the safer you are 2. It's valuation you should worry about not the price itself. It's really hard to see your portfolio decreasing every day, it's terrifying, obviously. But, when your rationales are sound, your analysis is thorough. Then it would much safer to buy when every one is about to go insane. For my view, I believe the valuation for some companies that I understand are fcking dirty cheap. Waiting for the...

The title was inspired by the memo "Now what" by Howard Marks around the time of GFC in '08. VNINDEX has dropped 37.3% to 962.45 from the ATH of 1534.52. Should you buy now? Or you wait for 950? My opinion is that predicting index is meaningless in the investing world.  Let's say the index hit 951, should you buy? Or you wait to exactly 950?  Let's say you buy at 951, what if index goes down 949? Or you can argue like this. If you buy at 951, so you could buy at 952, and then if you buy at 952, you can buy at 953,... and so on. The same argument can apply for those who like to think that hedge fund manager can "know" that index would hit 950. I do give him some applaud as he can hold cash for such a long time and act almost nothing. From 1534.52 to 962.45 is a long way, both in time and effort. There were so many events. What if the FED didn't raise the rates so aggressively? What if the war was over soon enough? What if inflation peaked? What if t...