2 great years of gain for those vested in SPY ETF 😊👍. Most of the companies failed to beat the index this year less a few successful ones. The lazy way is still to invest in SPY with an average of 10% growth each year
Price moves in wave pattern. It's too early to tell if we finally hit the bottom. However, it would be positive news if we can see higher high and higher low forming.
In the past, I would freak out and sell my positions and hold cash. Now I understand such headline sell and would take it as a pinch of salt. Logic doesn't work in stock markets as high can get higher
The lesson we can learn from China Evergrande is never invest in companies that took on too much debt and with little/ or no cashflow. It is just the receipt for disaster