Janko, Let's first establish that we are definitely and decidedly
kindred spirits, and most importantly, fellow Dudes. Until 3 years
ago, I spendt the bulk of my time umpiring little league bassball
games (a book in itself) and otherwise involved in youth activities.
Frankly, the time was was incredibly well spendt but left me very
short of dollars. But I chose this path fully understanding the
issues involved and, further, I have no regrets. If I die tonight
I'd be fulfilled!!! How many people can say this?
Never quite made it to Mensa, but then I didn't try as it wasn't
important to me. So what?
I'm only saying that we have to establish a comfort zone. The times
that I and my clients have been hurt the most is when I deviate from
my comfort zone for whatever reason. I'm leaving the money mgmt
business 12/31 because my market timing sucks. I always told my
devote followers that the beauty of the market is that Mr. Index
quickly and efficiently lets you know how you are performing. I've
learned if you cannot beat Mr Index just buy SPY. It's the best of
all worlds -- tax efficiency and market returns. But then, I have
to put my head on the pillow and sleep well.
Nonetheless, I'll be back and with a vengence. The lessons I've
learned have stuck! Most importantantly, I believe in Graham --
do not overpay for future expectations. If a company is selling at x
times earnings, why should one pay more than that. The downside risk
is just too great.
A fellow Dude with nothing to gain but Maslow Level 4!!! Good
Investing to you!!!
Berney |
