I am not sure what you meant by this.
What I meant was that during the last several months, I have devoted myself to watching the market. Although I knew that 50% a year growth could not logically continue, I was also afraid that I would miss continued increases. I had sold QNTM at 24 and watched it go to over 40. Same basic thing with CTXS, BAY, DELL.
After the big Dow drop and partial recovery, I began to get complaisant, and averaged down on some of my biggest losers, the DDs. Bad move.
So here I sit, margin percentage increasing as share prices fall. Although I see a recovery, it is unlikely that it will be immediate, or rapid. At least not for some of the stocks we own.
In answer to your question, what I meant was, a few weeks ago, my life was going to be what all that money I was making could buy. That stone farmhouse on the Delaware, the Jaguar XJR, and the security to enjoy them with friends and loved ones. Although money isn't everything, for joyless, lethargic, cynical guys like me, it is a comforting analgesic. Now I have to adjust both my lifestyle (or what it was going to be) and my way of thinking.
Pretty pathetic, huh? |
