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Preston

Well-known member
I loved their business model -- buying stakes in emerging brands and collecting a royalty. They were like a holding company/bank.
They were limited by the state that they do business in. It's a very very tough legal market. So much black market competition. So so so so much.
 
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CH1

The Artist Formerly Known as chiggins.
I feel like I'm watching my child have fun with an evil ex while I sit on the sidelines alone. :(
That's why I now always keep a chunk if I like the long term story. Separation anxiety is no good.

Use different times frames to your advantage, ie blow out all your GTII in your trading account, but keep some in your RRSP.
 

Preston

Well-known member
Yeah but I don't like deviating from the strategy that works for me. I don't like getting greedy. There have been times where I keep a core and watch it tank 20, 30, 40% from highs.

I did add to my Cresco while watching GTII and CURA move. I don't mind holding that one into next week (maybe take off half EOD). It has already moved nicely since I bought. Eases the pain a bit. And as a bonus, the position is greater than what my GTII small core would have been.
 

CH1

The Artist Formerly Known as chiggins.
Yeah but I don't like deviating from the strategy that works for me. I don't like getting greedy. There have been times where I keep a core and watch it tank 20, 30, 40% from highs.
I get it, but the only way to bank serious coin long term is to get "greedy", at least in the names you consider quality. Otherwise, you sell SHOP after a 100% gain, and leave another 900% on the table.
 

Preston

Well-known member
I get it, but the only way to bank serious coin long term is to get "greedy", at least in the names you consider quality. Otherwise, you sell SHOP after a 100% gain, and leave another 900% on the table.
My time for getting greedy isn't after I held names through 120% gains. I got greedy when I bought Thumb aggressively in the 5's and 6's. That's where I made my coin. My position right now is that the risk-reward is no longer as advantageous as it once was on these names. But you're right.. To make 7 figures kind of coin, you need to take risks that aren't an advantageous risk-reward scenario. Making bets against that go against the odds often makes you the most money. That's not in my risk profile.

But the dip in March was once in a decade type shit.
 

Preston

Well-known member
And I can pickup scraps on laggard plays anyway with a lot less risk involved. Got 6% on Cresco in the last two days. I don't mind me some sloppy seconds.
 

LeafOfFaith

Well-known member
My time for getting greedy isn't after I held names through 120% gains. I got greedy when I bought Thumb aggressively in the 5's and 6's. That's where I made my coin. My position right now is that the risk-reward is no longer as advantageous as it once was on these names. But you're right.. To make 7 figures kind of coin, you need to take risks that aren't an advantageous risk-reward scenario. Making bets against that go against the odds often makes you the most money. That's not in my risk profile.

But the dip in March was once in a decade type shit.
It’s on my mind all the time. All the fucking time. Can’t believe I basically sat it out. I tell myself, hey, it was a crazy period where life itself looked to be in jeopardy. And that’s true but I think moreso than that, if we sat it out, it just means we were simply unprepared unfortunately. Discretionary money means it’s money you can afford to lose, and it was well worth the risk of losing it to buy big names at deep discounts. I’m just hoping to have the mental and intestinal fortitude to take better advantage next time, whenever that may be.
 

Preston

Well-known member
It’s on my mind all the time. All the fucking time. Can’t believe I basically sat it out. I tell myself, hey, it was a crazy period where life itself looked to be in jeopardy. And that’s true but I think moreso than that, if we sat it out, it just means we were simply unprepared unfortunately. Discretionary money means it’s money you can afford to lose, and it was well worth the risk of losing it to buy big names at deep discounts. I’m just hoping to have the mental and intestinal fortitude to take better advantage next time, whenever that may be.
Make the move of selling after 100% gains 100 times and you'll be right 99 times. Maybe even 100. Don't sweat it. You did the right thing even if things got a bit crazy after.
 

Preston

Well-known member
Not if you invested the initial gains in an ininite series of sloppy seconds.
Now you're talking. Never been a fan of investing on the "maybe this time it'll be different" philosophy. That's just gambling. Take the gains and move on.
 

LeafOfFaith

Well-known member
Make the move of selling after 100% gains 100 times and you'll be right 99 times. Maybe even 100. Don't sweat it. You did the right thing even if things got a bit crazy after.
I was replying to your other post, not about Shop. That annoys me but it doesn’t keep me up at night because I made money. But it was most definitely a very foolish move on my part.
 

Preston

Well-known member
I was replying to your other post, not about Shop. That annoys me but it doesn’t keep me up at night because I made money. But it was most definitely a very foolish move on my part.
Oh yeah.. Ooops I misread. I don't think it was foolish though. It's the right decision 99.99999% of the time. You just happened to pick one of the few bigly stonks that just fucking exploded in the past few years.
 

LeafOfFaith

Well-known member
Oh yeah.. Ooops I misread. I don't think it was foolish though. It's the right decision 99.99999% of the time. You just happened to pick one of the few bigly stonks that just fucking exploded in the past few years.
What can you do, can’t win em all. It would by far and away be the best performing holding though, up 600%. Nuts.
 

CH1

The Artist Formerly Known as chiggins.
Now you're talking. Never been a fan of investing on the "maybe this time it'll be different" philosophy. That's just gambling. Take the gains and move on.
I'm talking about long term investing ie you buy AMZN. It does amazingly well for a year...you foresee a correction....do you "take the gains", hoping that you can time a more favourable re-entry? IMO, either way, there's a measure of gambling involved. Maybe your timing won't be perfect and you'll never get back in.

Again, I'm not talking about your trading account here. That's all about taking gains.

All i'm saying is that it's possible to hold positions in different time frames. For example, I've been long GOOG in my RRSP, but simultaneously short it in my trading account.
 

Preston

Well-known member
I'm talking about long term investing ie you buy AMZN. It does amazingly well for a year...you foresee a correction....do you "take the gains", hoping that you can time a more favourable re-entry? IMO, either way, there's a measure of gambling involved. Maybe your timing won't be perfect and you'll never get back in.

Again, I'm not talking about your trading account here. That's all about taking gains.

All i'm saying is that it's possible to hold positions in different time frames. For example, I've been long GOOG in my RRSP, but simultaneously short it in my trading account.
Of course. And I play the odds that this particular sector has high highs and low lows. There will be several more cycles of hype and despair. I will continue to deploy my strategy of selling in the midst of euphoria and buying in the face of despair it until the share prices run off and never return (in which case, I am okay with that since I've already done this 4-5 times and have gotten several years worth of gains - far more than I'd have if I held onto any piece). I guess what I'm saying is.. I'm not really "investing" in the sector, per say. Just profiting off of the psychological aspects of traders.

My investments are all lower risk ETFs. And that is likely how I'll always do it.
 

CH1

The Artist Formerly Known as chiggins.
I'm not really "investing" in the sector, per say. Just profiting off of the psychological aspects of traders.
Fair enough, and why I asked you many pages ago if you were investing in these names long term. You're trading them like a hedge fund.

I'm glad we got that cleared up.
 
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