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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: ggamer who wrote (35704)	11/30/2000 1:55:24 AM
From: Mike Buckley	Read Replies (4) of 54805

WARNING: Those who don't like syrupy-sweet melodrama should probably use the "next" thingy right now. :) ggamer, But I want to know if the daily drops and market correction do bother you or put fear in you. No. Never. There are several reasons. Probably the most important one is that my entire post-Army career was a sales career in which I never knew how much money I was going to make. My income could easily be X one year and 30% of X the next. That sort of existence might be the best possible preparation for long-term investing. A second reason is that, with very few exceptions, I always lived on less than I made. That was true even when I was in the Army and when I embarked on new career paths, situations with limited income. The same is true for my wife before we met. Both of us know that if some sort of debacle comes into our lives, we can cut back our annual spending dramatically. The third reason has to do with the realistic eventuality that I indeed might have to endure a financial catastrophe some day. As an example, that sort of catastrophe might be one requiring that I have to re-enter the workforce. Having to do that wouldn't phase me. I never look backwards and second-guess previous decisions. In that situation I wouldn't regret my decision to quit working. Instead, I'd relish the incredible times I've already had that simply weren't possible while I was working. The fourth reason -- aren't ya sorry you asked? -- is that I've NEVER invested any money I think I might need in less than five years. I build in such a large margin for error that I can relax on those days the market tanks. In April, my portfolio tanked 20% on one day and another 13% just a few days later. That was about 18% and 11% of my net worth, respectively. It didn't phase me in the slightest. The more uncomfortable those days are for an investor, the more money that person should have that isn't in the market. All of life is too short to be anything other than fun. Investing is no exception. Sorry that I surely answered a lot more than you asked about. --Mike Buckley

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