Go ahead, nit pick all you want. However, I DO AGREE I do need to focus more on capital preservation
But I stand by my record of acheived gains this year.
Week-by-week, trade-by-trade, that’s how I built up what is now 50% YTD net appreciation across my (and my wife’s) retirement portfolio. I have no regrets and I’m having loads of fun doing this.
And along the way I make lots of mistakes, missed guesses, and the smartest move is to run for cover when markets go opposite of where you’ve bet.
peterb dumped his long positions this morning. That was SMART and even if this market turns around and starts heading up, peterb will still have been smart.
It is about protecting yourself from losses, responding to markets moving in unanticipated ways.
The world’s greatest hedge fund managers have written and interviewed about how they consider that, in some situations, GOING TO CASH is an appropriate and essential tool in the toolkit of a successful fund manager.
I woke up to find Oil FALLING and the overall stock market FALLING, double-trouble for my oil stocks.
I had already seen that take away 10% of what had been 30% average appreciations on those positions. I decided to take profts today, lock in that remaining 20% profit. I don’t regret selling everything today.
Personally I would respect some of the community on here MORE if people simply posted their trading/investing/speculating ideas (good or bad) AHEAD of the markts….instead of just nitpicking others good ideas.
I give credit to members like peterb, Chris_Scoreboard, TheBreeze, and others for taking the time to post ideas, and offer constructive criticism.
Now as for the whiners and flamers on here, spending your time on THAT will not get your portfolio to a 50% YTD gain in a market that’s falling 50%. You achieve good gains through hard work, week-by-week, trade-by-trade.
A closing comment:
ten days ago, oil was sitting at $40/bbl and gold was about $750/ounce. Oil stocks were at about five-year lows.
Now buying oil and gold at those prices is basically shooting fish in a barrel. So did most of the people on this forum miss that obvious opportunity and watch guys like me, peterb, and others make good money on those bets in just ten days?
The whiners and nitpickers on here should grow some balls, and try getting in the game and make some money, especially when the money is that easily made.
