QT, It was a different Dave Feldman who wrote "Woulda, Shoulda, Coulda." That was an extremely funny, entertaining and enlightening book. My buddy Dave Feldman is the one who recommended it to me. I addition to the book I mentioned, which is out of print, he is the author of the IMPONDERABLES books, the latest of which is "How Does Aspirin Find A Headache." But my favorite of all is the "How To Win At Just About Everything," book. My favorite title of his is "Do Penguins Have Knees."
No matter how wise we become as investors, there are mistakes we will make in the future. And sometimes we will repeat mistakes we swore never to repeat again. That is why money management is as important as picking stocks, options, commodities, etc. You mentioned Gambler's Ruin and Investor's Ruin is the same thing. However, I find most financial planners have no real concept of this. A few do, but most don't really contemplate a lifetime plan all that well.
I do swing for the fences in my 90/10 and cap appreciation portfolios. In my maximum income portfolios, I do a lot of exotic things to make certain I never lose. The 90/10 and the Cap App are for building my base of assets while I live on the income money, so it is a different attitude for each.
Good Luck,
MB |
