I don’t want to diverge too far on the intent of this board but a quick comment to your post:
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High multiple growth tech was likely pretty over priced and has corrected some of that. Timing is always tricky and I meant to take more profits but was greedy and we never know how high it keeps going. Even now I like the companies I own, I just like my balances less… But to answer your question a 20% drop in these names was very predictable at some pt only question was when.
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Its a lot easier to feel ok with big price changes when your purchase price is still a pretty good gain from the adjusted price. Its a lot more difficult on a new position or if you just invested a fairly large amount. Timing matters but time in market matters more over the long term.
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The reopen trades are also overheated now like the tech stocks did. Anyone just going there now likely missed most of the move. Airlines, hotels and cruise lines have not been stocks most people wanted to own over the last x years. Cruiselines were good until covid but all of these are asset intense, high competition, low profit margin businesses mostly.
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Cycles and swings are speeding up as is volatility. We have been benefactors of mostly straight up trends for a long while and that’s now reversing or at least pausing. This is where the long term owner vs. trader concept is helpful.
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All companies/industries really must be into and invest big in tech now to stay competitive. This creates pretty nice moats for those companies that innovate in these spaces (Amazon, Microsoft, Google, Salesforce, Servicenow, Datadog, most other real saas businesses etc etc… People can only rotate out of tech for so long because tech really is the driver behind the digital economy moving everything forward.