Some months ago, we asked you to sell half of some of your winners.
Reason: We want you to have some cash when the downtrend came.
The first phase of the downtrend already happened. Last month, the PSEi--that's the average price of 30 top companies listed in the stock market--went down from a high of 9000 to 8600. Two weeks ago, it went down further from 8600 to 8200.
We believe it will go down even further--HOPEFULLY--all the way to 7900 or lower. Yes, hopefully. As you know by now, we want the stock market to go down. Because we're long-term investors, we want the market to be on "sale" so we can buy cheap.
Here's the reason why the market is going down: Peso Depreciation. We think the Peso will go decrease in value from P51 to P54 or P55 for each US Dollar. Which is good news for OFWs and the entire BPO (Call Centers) industry. In the long run, Peso depreciation will be good for the economy. Note: Our neighbors like Indonesia have already depreciated their currency by 50% to 60%; We'll most likely be depreciating by just 20%.
Why does the stock market go down before the Peso depreciates? As you read this, foreigners and many huge local investors are selling their positions, pulling out P500 Million to P1 Billion every single day. They want their dollars to stay in the sidelines and wait for the depreciation to happen. Once the Peso goes down, they'll come back and buy our stocks again. And the market will rise again.
What to do: Keep buying every month your "scheduled" small amounts, but for your bigger cash, Mike Vinas and I will email TrulyRichClub members when you can start deploying it into the market.
Happy investing!
May your dreams come true,
Bo Sanchez
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