I'm starting to think there is too large of a wealth gap between us.
I'm gonna guess your net worth is to the tune of 2 to 10 million (ballpark, all assets included.) I am solidly under 100k. My mortgage was just over 200k and basically my upper limit.
Losing 30k to you is a really bad day. Losing 30k to me undid nearly a decade of work. All that time and effort spent fed right back to the street. So sorry if I come off as bitter but I am extremely. This has fucked my life up more than you realize.
You would be mistaken. My net worth clocks in around 750k. Divorce is ugly that way.
As
C
Captain Suave
said above. You need to think in percentages and not dollars. Fractional Investing and no trade fees was a Godsend to retail investors.
I am not buying 100 share blocks of AMZN or GOOGL when I buy them. I have my total portfolio $$ balance and then every position is a percentage of the total. I, in nearly every way, focus strictly on percentages when investing. I don't care about "x" dollars I have in AAPL. I care about what percentage of my portfolio is invested in AAPL.
I have shown my portfolio holdings a few times. It's 40% index fund and about 20 individual stocks. Investing is half math and half strategy. I have some advantages over some others because of my business background, but that is nothing anyone here can't learn by studying how to read and analyze corporate financial documents. The strategy part is most likely where people fail the hardest. Lots of investors don't have a strategy.
I adhere strictly to my strategy. No more than 5% in a single stock unless I choose to be overweight it. I avoid some sectors outright and only invest in about 5 total sectors. No more than 3% of my total portfolio goes to "intellegent speculation". I own one stock that falls in this category and I probably know more about that company than I do my wife at this point. And I look at it everyday with the knowledge it can go to zero tomorrow.
I won't buy more AAPL or MSFT or FTEC even though those are my core holdings because I own my cap weight. That takes discipline following my strategy and it sucks when I see them on pullbacks like we had and I know they are going to recover but won't buy more.
My investing strategy is written down like a business plan and in the same excel spreadsheet that tracks every single trade I have made since Black Monday. This includes ever option trade I made as I taught myself options. I am not smarter, wealthier or luckier than anyone else here. Just more well hung that y'all
I am generally a risk averse grinder who stays in my lane and invest in shit I know. I don't buy companies I have never heard of. MTTR being an exception and we know how that one turned out.
To be an investor you have to have emotions in check and a 3 second memory. Bad trades happen. To all of us. Fuck, the guy shorting nickel lost tens of billions. All you can hope to do is learn from your mistakes and move on.
Honestly you have some self inflicted wounds that are strictly emotion driven. When GLG popped on earnings you had a chance to trim losses and walk with something more than you had the day before. You chose to "ride it to zero" instead. Consider had you sold it a few weeks ago on the pop and invested it in the QQQ you are probably up 10% from that point. Those are the strategic decisions hurting your wealth creation.
There was a time I was close to running the Boglehead 3 fund strategy. Christ on the cross how fucked would I have been with 20% in bonds and 30% in international funds? My ass would have been large enough for a pineapple (thot thread reference
).
Tldr: welcome to the party. Pick yourself up and dust yourself off. Ain't no one gonna do it for you. Bad trades are a part of baseball. And investing. I don't do anything anyone else here can't do. Same with
Blazin
,
Jysin
,
Fogel
or anyone else. I am just dead sexay when I do it