| I believe there is a lot of truth in your post. Personally, the one portfolio I have with a fixed amount of money (a $17,000 IRA established 1/96) maxed out at $170,000 in March of last year for a return of 1000% in a little over 4 years. In the ensuing 11 months it has been decimated and is now worth $85,500, or roughly 1/2 it's max. However, this still represents a 400% gain in 5 years and I tend not to worry too much about the short term on this one. It was obvious that 170k was ridiculous, but so was 150k and 120k on the way up to my way of thinking. Sure it would have been nice to cash out at the top and be all cash this past year, but I'm not that smart or lucky. I doubt I'm an investment genius, so I presume this instance is not unique. Hence a certain lack of fear at this point. Also not eating or rent money, nor my only investment. Edit:also wanted to add that the above is one of the big reasons I follow this thread. It obviously would be better if I avoided the haircuts. Unfortunately, I don't yet have the time to take your class. |
