<sometimes I wonder if it's worth all the effort. Life is too short. Getting tired - and maybe a little bored - with being a trader, manager and asset allocator - in addition to the day job.>
Yeah, no kidding. I'm tired of this as well. There are so many better things to invest time in. However, I feel like there are still extraordinary opportunities, and the environment in a few years is going to be much more challenging. Once (if?) stocks are finally given up for dead in a death-of-equities revulsion, stocks will be boring, staid investments again. They will not require constant monitoring, and will probably offer outstanding risk-adjusted return.
It sounds like my wife and I are separating, and I wonder how much impact the markets have had. I made a conscious effort - successfully - to distance myself from trading in 2009. It was an expensive decision, as my reduced-time-commitment strategy didn't function too well during the recent rocket launch. And evidently it was for naught. But I suppose I had to try.
I still think that defense of assets in this once-a-lifetime deleveraging is vital. It's very, very tough to know exactly where you are in the process, but I do believe it is safe to say that the process has not yet completed. The odds that a credit bubble that began in 1995 and ran 13 years would be corrected in a mere 17 months are pretty low. I have trouble trusting anyone else to steer through the wreckage. You can't know what an asset manager will do given the circumstances, and they could well do something extraordinarily foolish. I'm hoping my assets will provide seed capital for a future venture of mine, so I just keep my eye on that goal and figure it's worth it, for at least a little longer if necessary.
`BC |
