”Buy when there is blood in the streets, even if the blood is your own – Baron Rothschild”
While I am waiting for the panic to hit larger, presumably “safe” stocks like JNJ and P&G, I am averaging down on my existing ones. Yesterday I bought Royal Dutch Shell at $24,20. Last week I bought some more BW Energy at around 11 nok a share. I also started saving in a new index fund tracking the Nordic indexes. Not much fun to see shipping stocks tank, and I have to say I’m not overly confident that Wallenius Wilhelmsen will survive without a private or public placement. I try to think where we will be in three years, and I believe shares I buy in these sectors will be much higher then. Chemical transportation is probably better to invest in, due to the low level of new ships the next years. So if Stolt-Nielsen continue to fall, I will average down there too.