🌟🌟🌟The Singapore banks selloff was the biggest news of the week. Normally the banks move slightly up or down by 1% to 2% but a huge move like almost 10% for $OCBC Bank(O39.SG)is pretty alarming. It is easy to panic sell but I am holding strong.
When I step back and look at what underpins these local banks, I realise that letting go of these assets during a temporary pullback is not a good idea. Instead it is a great opportunity to accumulate them since now I can buy in lots of 10 rather than 100 shares.
As Warren Buffett famously said:
"Be fearful when others are greedy and greedy when others are fearful".
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