My experience is, if I panic and sell something , I will never jump back in. It's wiped from my memory and I never look back, it's my personality.
Therefore I miss out on a resurgence. An example would be Methanex I sold back in the 90's at probably 3 bucks because it was "under performing" and I never bought it back stupid me. Now it's around 50. Thankfully mistakes like this are few for me.
My largest gains have been with something I own at higher levels and it drops, say 50-90 % and I methodically buy more through the years if I like management, waiting for the cycle to swing back my way. Doesn't matter if it's high tech, nat resources, banking, etc. Everything is a cycle, ebbs and flows. Back then I had time on my side, these days not so much so ymmv.
Some would say I'm a loser for my approach lol maybe they're right. If I was managing others money, that would be correct, but I don't. |
