(01-07-2022, 11:14 AM)Scooterd Wrote:Same with most every bubble story. Some (maybe 10-20%) showed up very early and made a ton of money. Many of them already rang the register when it faded. The fund did OK enough for years and then exploded in 2020. The FOMO gang shows up late like always. A few have the sense to leave before they are down much and just a lesson learned. The rest get crushed holding and averaging down. And then a few happen to catch the bottom and make 10% in a month so it's a good fund to them. Buying stuff that is overvalued is never easy if you hold it long enough.(01-06-2022, 10:17 PM)fenders53 Wrote: She just got hit with a ton of liquidations again this week. They will be forced to dump more shares at very low prices again. She can talk long-term but the customers will make that hard. The funds will be much smaller in a year. That was the only thing I saw coming with certainty. They close large funds for a reason.
We are all at a wonderful ball where the champagne sparkles in every glass and soft laughter falls upon the summer air.
We know, by the rules, that at some moment the Black Horsemen will come shattering through the great terrace doors,
wreaking vengeance and scattering the survivors.
Those who leave early are saved, but the ball is so splendid no one wants to leave while there is still time,
so that everyone keeps asking “What time is it? What time is it?” but none of the clocks have any hands....
The Black Horsemen did come, of course, and most of the guests were still at the ball. - SuperMoney (1972)
Lessons Cathie never learned.
I certainly feel bad for the retail investors who bought into her thesis.. But then again they are all big boys and girls.
- Scoot
"Risk is the forgotten man of this bull market". - John Bogle (Just days before the dot.com bubble burst)
I think bitcoin is ridiculous, but I have friends that are up 1000-5000% and some of them took half of it off the table some time ago.
Long ago I was that young person that was averaging down after a 50% dip. Several of them are actually decent companies today, (Western Digital and Seagate), but I was leveraged some and didn't have 15 years to ride it out. Gambling in any form is dangerous and most have to endure a personal beating to understand the risk they willingly exposed themselves to.