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.I loved their business model -- buying stakes in emerging brands and collecting a royalty. They were like a holding company/bank.
I feel like I'm watching my child have fun with an evil ex while I sit on the sidelines alone.
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.
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.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.
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.
You’re saying that was a bad move?
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.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.
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.Not if you invested the initial gains in an ininite series of sloppy seconds.
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.
Not if you invested the initial gains in an ininite series of sloppy seconds.
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.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.
Meh you did win as far as I'm concerned. You got some great gains.What can you do, can’t win em all. It would by far and away be the best performing holding though, up 600%. Nuts.
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.
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.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.
I'm not really "investing" in the sector, per say. Just profiting off of the psychological aspects of traders.