The best time to be greedy is when others are fearful, or so the saying goes.
Today the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) is down by 1.2% so far. That doesn’t sound like much, but it’s a hefty fall for one day.
Our market is dropping on the back of major falls in the global economy and large US shares. Our index is lower in-particular due to CSL Limited (ASX: CSL) dropping by 3.7%, BHP Billiton Limited (ASX: BHP) down by 2.5% and Macquarie Group Ltd (ASX: MQG) in the red by 2.3%. Many other blue chips are also down today.
It looks even more painful in the mid-cap space. Altium Limited (ASX: ALU), Afterpay Touch Group Ltd (ASX: APT), Xero Limited (ASX: XRO), WiseTech Global Ltd (ASX: WTC) and Appen Ltd (ASX: APX) are all down by more than 4%.
There lots of quotes and phrases that help my mindset with days like today. “It’s all about the long-term”, “Mr Market is crazy” and so on.
But, one of my favourite Buffett lessons is just ignoring everything that’s happening in the market and just focus on the value of the businesses on offer. You don’t need to worry about index returns if your portfolio is full of quality individual businesses that have long-term growth prospects.
On days like today I think it’s good to put some money to work. I put some money into the share market today myself.
Of course, prices could keep falling. If that happens I intend to keep regularly investing. But, my only consideration is the select number of businesses on my watchlist, not the index, – am I getting even better value than before for wonderful long-term businesses? Today, the answer was yes.
Today isn’t the day to panic, it’s a good time to add a bit more capital into your portfolio for shares at attractive value.
These top growth shares are all better value today and could make excellent long-term growth picks.
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Motley Fool contributor Tristan Harrison owns shares of Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO, Altium, Appen Ltd, WiseTech Global, and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.