This should be a fun chat. This has completely become my focus when I knew I was about three years from full retirement. I am now 15 months away. Maybe I'll still want to work a little, but I want it to be optional ......... so I try to protect my lead but still participate in the market. I get scolded here often for being too negative and probably deserve it. Sometimes it saves me money, and sometimes my inaction costs me easy money. All in retrospect of course.
As careful as I thought I was, my port got steam rolled BAD last March. WAY more than it should have with my cash position and mostly defensive holdings. It was a wakeup call and I became even more self-critical. I panic sold a few stocks I thought were dead like DAL and DOW. They weren't. I also jumped on some super once in a decade deals. It all worked out. I am having one helluva 2021. Beating the SPY with lots of cash most of the time. That's a big win with one hand tied behind my back.
I do stock research like I never have before on my core holdings. I listen to a LOT of conference calls on boring stocks. I know what I am invested in. I sift through the idiots and scour youtube for intelligent people with an opinion on my core holdings. All with the intent of minimizing big mistakes.
I hand out lots of advice here. I try my best to never spew hype. If you buy a stock and I am pretty sure you don't have the facts I will probably speak up because I actually care if you lose money. I wish somebody had done that for me 25 years ago when I was setting myself up to get crushed, but nobody did and I got my face ripped off. I won't forget those lessons. So many mistakes back then. All obvious now.
I play options in a conservative manner almost daily and I'm sure many think I am either a guru or a gambler. I am neither. I am careful, am almost always on the sell side and after nearly 2000 trades. I know how to avoid trouble with significant amounts of capital. The income absolutely dwarfs my dividend income 11 months a year. That happens because I am careful to avoid big mistakes and know how to dance my way out when the ball doesn't bounce my way.
I guess I follow Buffets #1 rule best I can. Don't lose money.
It really is true. You don't have to hit a lot of homeruns if you avoid hitting into too many double plays.
This is probably a crappy post. I could have done better. Told you I am self critical.
As careful as I thought I was, my port got steam rolled BAD last March. WAY more than it should have with my cash position and mostly defensive holdings. It was a wakeup call and I became even more self-critical. I panic sold a few stocks I thought were dead like DAL and DOW. They weren't. I also jumped on some super once in a decade deals. It all worked out. I am having one helluva 2021. Beating the SPY with lots of cash most of the time. That's a big win with one hand tied behind my back.
I do stock research like I never have before on my core holdings. I listen to a LOT of conference calls on boring stocks. I know what I am invested in. I sift through the idiots and scour youtube for intelligent people with an opinion on my core holdings. All with the intent of minimizing big mistakes.
I hand out lots of advice here. I try my best to never spew hype. If you buy a stock and I am pretty sure you don't have the facts I will probably speak up because I actually care if you lose money. I wish somebody had done that for me 25 years ago when I was setting myself up to get crushed, but nobody did and I got my face ripped off. I won't forget those lessons. So many mistakes back then. All obvious now.
I play options in a conservative manner almost daily and I'm sure many think I am either a guru or a gambler. I am neither. I am careful, am almost always on the sell side and after nearly 2000 trades. I know how to avoid trouble with significant amounts of capital. The income absolutely dwarfs my dividend income 11 months a year. That happens because I am careful to avoid big mistakes and know how to dance my way out when the ball doesn't bounce my way.
I guess I follow Buffets #1 rule best I can. Don't lose money.
It really is true. You don't have to hit a lot of homeruns if you avoid hitting into too many double plays. This is probably a crappy post. I could have done better. Told you I am self critical.