The only time you win or lose on the stock market is when you sell your shares.
It is prudent to buy shares in a viable company when the share value is low and to sell these same shares when the share value is higher than the original share price plus the fees associated with their purchase and sale so that if I am trading in shares, I can make a profit from shares that I have purchased. This is s short terms view of owning shares.
The news reports are telling me that I have lost money on my shares, but if I am not selling my shares, the actual value others have placed on the shares that I hold, if I am forced to sell them at this time, would mean that I would be selling the shares at a loss.
Many people hold a long term view on owning shares and they are considering the yearly dividend return on their shares which is their income from the shares. The percentage return on my shares with the dividend should be calculated on the value of the shares when they were purchased and not on the current trading value that people are prepared to pay for those same shares.
My wife's shares have paid out around $10,000 for this half year's distribution of the operating profits of the companies that she holds shares in and the return based on the value of the shares at the time that the dividend was set, was around 6.25%, but with the trading value of the shares dropping the trading value of those share by a third since the pandemic began to bite, the return on the dividends is now actually closer to 10% based on their current trading value.
People hold shares because the dividend payment return on the invested value of the shares gives a better return on the value of the money invested than what the percentage return that they banks are currently paying on invested money in term deposits.
The secret of buying and selling or holding shares is to have a diversified stock holding over a range of company exposures to maintain a consistent return as the stock holdings respond to the changing exposures of those companies.
The other secret is that your decisions cannot be based on emotions, but must be based on the hard cold facts of how a company is performing within its exposures and how the leadership is guiding the company into a stronger position to nullify those exposures and the ones that may be on the horizon. Companies are a bit like a sailing vessel, when bad weather comes the way of the vessel, its viability in weathering the storms etc is dependant on the maintenance of the vessel, and the skill and nerve of the crew and the earlier decisions made to minimise or avoid the approaching bad weather to reach the desired destination on time to realise the goals set for the vessel.
With owning shares, patience and prudence is the hallmark of the respective owners as to whether or not they are able to ride out the storms or flounder or sink while trying.
Shalom