I suggest reading a really good book, or if you're feeling ambitious perhaps you could start writing a really good one.
Really enjoyed "Project Hail Mary". Took my mind away from Earth.
Ask HN: How to deal with markets down turn? Feeling down
51–60 of 228 posts
Re: Ask HN: How to deal with markets down turn? Feeling down
#52Sorry that this happened. You're not alone feeling this way. I have lost about 95% of my liquid net worth this year, due to hubris, basically. The first half of 2022 for me was waking up every morning and feeling like puking a little as I get more under water, closer to that margin call, plunging through my stops. After almost a year of this, I have found a perspective that is helpful for me and may be helpful for yo…
What was your motivation to invest in such a way that 95% loss was even possible?
The everything bubble gave a lot of people the mistaken impression that they were genius tier investors. I know I personally spent a lot of emotional energy on checking my own ego.
Re: Ask HN: How to deal with markets down turn? Feeling down
#53Stop watching the markets, stop reading the news, do something fun and engaging. This is the best advice you'll get (which is why so many people are giving it). If you're serious about feeling better, please take this advice.
Re: Ask HN: How to deal with markets down turn? Feeling down
#54Earlier quoted context omitted.
In which case - and sorry for not having any consoling words here for the OP here - I can unfortunately not really have much empathy here. An overwhelming majority of people especially here on HN laugh at you if you discount variable aspects of renumeration. Employer issued options or RSUs are down 90%? So what! You accepted a variable renumeration scheme. You knew ahead of time. You are no longer making 200k base +…
I’d hazard a guess that you’re being downvoted because of your lack of empathy, which is the point of the post, but also because of your gotcha position around variable comp. If you work for a startup and reject variable comp, you are wasting your time. Go get a safer, easier, better-salaried position. If you aren’t working for a startup, you’re in no position to comment on the validity of the approach people take th…
Except it’s not a funeral at all, they likely still make well over median income.
Re: Ask HN: How to deal with markets down turn? Feeling down
#55advice given me during the dot-com boom at the end of the 90s
"the important thing about options is that they should be 2-ply"
Re: Ask HN: How to deal with markets down turn? Feeling down
#56My stock options have gone to basically zero twice in my career. It's OK. I knew going in they were gambles on companies I wasn't sure would take off, and I made sure I still had a decent salary from those companies. I also got a LOT out of those companies in experience.
You don't have to buy options that are underwater, or that you're not sure will go back up. You might choose to buy some anyway for Reasons (in both my cases I did do modest purchases, and nothing has come of them), or you might decide to go put your money elsewhere.
My advice to you: particularly if it's early in your career, don't put all your eggs in one basket, and don't have only one iron in the fire. Find other ways to squirrel money away. Diversify your holdings over time. Consider all the investment vehicles your company may offer: US companies I've worked for also offer ESPP, 401(k) contributions and matching, and RSUs (which unlike options are actual shares given to you), for example.
Finally, go talk to a financial advisor if you haven't already and come up with a long-term plan that makes sense to you. That should give you some peace of mind!
Re: Ask HN: How to deal with markets down turn? Feeling down
#57My perspective is a bit different since I don't have stock options, just plain retirement and such. So, take this with that in mind. I would recommend giving yourself a break from following it. My reasons for not looking are these: Values of assets change a ton day-to-day, and a year or two from now who knows what it will look like! I also don't have any control over prices. I could shuffle assets around, but again I…
Same advice. Unless you're a day trader, just pick strong assets and look at them once in a while. You'll get sick if you keep reacting to the fluctuations every day.
Since the GP talks about stock options I’m guessing these are part of their total compensation and not a discretionary investment. I’m in a similar boat - stock is about 50% of my total compensation but its value has dropped by 90%. It’s hard to be blasé about losing almost half my income.
Re: Ask HN: How to deal with markets down turn? Feeling down
#58All this is good advice, but I haven't seen any prospective on personal budgets:
- Remember that money exists to be spent on useful things, it's not a video game score
- Understand your monthly spending and monthly take-home. If you're in a role that grants equity, I bet you've got a healthy surplus. If not, I bet you could make some lifestyle changes to achieve that.
- Take a moment to really accept that you are fine. You are not in danger, and shouldn't carry a fight or flight anxiety.
- Then think about your future. Can't sugarcoat it, you might have had more vacations or whatever if your options didn't decline, but I bet that you can chart a course to a decent retirement. Use an online calculator. Again, your future is fine. Not great, but fine.
- Think about what your future looked like when you graduated high school (or equivalent, wherever you did it). Did it definitely include being rich? If not, then you have lost nothing relative to that. And it's possible that on this company, the next one, or the one after that, you'll end up there anyway.
- Finally, spend a little money on something you like, and cut a little money on something you hadn't gotten around to canceling (streaming service, routine meals out, etc) You have so much control over your life.
Re: Ask HN: How to deal with markets down turn? Feeling down
#59Earlier quoted context omitted.
In which case - and sorry for not having any consoling words here for the OP here - I can unfortunately not really have much empathy here. An overwhelming majority of people especially here on HN laugh at you if you discount variable aspects of renumeration. Employer issued options or RSUs are down 90%? So what! You accepted a variable renumeration scheme. You knew ahead of time. You are no longer making 200k base +…
I’d hazard a guess that you’re being downvoted because of your lack of empathy, which is the point of the post, but also because of your gotcha position around variable comp. If you work for a startup and reject variable comp, you are wasting your time. Go get a safer, easier, better-salaried position. If you aren’t working for a startup, you’re in no position to comment on the validity of the approach people take th…
We don't know about the OP. He didn't say what his situation was. For the hypothetical situation of my parent my stance stays even if voted into oblivion. And I knew it would likely happen given the overall sentiment on HN. Like with variable renumeration itself knew what I was getting into. FWIW I have a variable mortgage and I knew what might happen and is now happening and that is why I didn't buy at the top of what the bank would give me.
If you work for a startup, like you say, there's usually no option to get more base comp. Absolutely understood. You do that when you are young and take a chance to hit it big. Don't complain if you don't hit it big though.
I never said I applied at a startup though and the example I made is more indicative of Amazon or Google.
The way I see the parents example the appropriate analogy would be a funeral for people that liked standing on the train tracks knowing a train was coming and trying to jump before it hit them and I wonder why everyone is surprised that it happened.
Re: Ask HN: How to deal with markets down turn? Feeling down
#60Earlier quoted context omitted.
Same advice. Unless you're a day trader, just pick strong assets and look at them once in a while. You'll get sick if you keep reacting to the fluctuations every day.
Since the GP talks about stock options I’m guessing these are part of their total compensation and not a discretionary investment. I’m in a similar boat - stock is about 50% of my total compensation but its value has dropped by 90%. It’s hard to be blasé about losing almost half my income.
Unless you are aiming for the C suite you should NEVER have any company stock as that is putting too many eggs in one basket. If you have all your eggs in one basket you better watch that basket on a level that only C suite people have access to. (I'm not sure if they do,but at least they can unlike those below)