Read? Paper Losses Painful. Cut Losses Also Painful! So How???
In the last GFC, this was exactly how Uncle8888 felt
F .... painful!
F ... stupid!
Of course, he would not be feeling the same level of F .. pain and F.. idiot if he had another million in cash or cash equivalent kept somewhere safely from Mr. Great Bear!
Uncle8888 knows that talking to himself is cheap.
Be less emotional?
Think long-term? (wrong term?).
Dividends as Pandaols. Yes for small headache Panadol can ease the pain; but not for the great pain like Migraine!
For the next Big Fat Bear; Uncle8888 will not feel the same level of pain and stupidity again as he has done it completely different this time!
Posts
Uncle.
ReplyDeleteYou teach me stock switch.
Is stock switch better than taking panadol?
Now I almost switch more small cap to blue chips.
Only time in the market will tell
DeleteSomebody sure knows his literature ;)
ReplyDeleteCW,
ReplyDeleteBefore I invest in property, many years ago, I bought books to read first. Then I buy HDB first and later gather experiences. Then private prop.
Same for career n stocks.
Also try not to excel in too many things at the same time. Focus few things within few years period. Not squeeze everything in one year.
Normally I already visualize few important milestones ahead. Before I embark, I do preparation.
Read books n ask pple more who alrdy experience successfully. Learn. But no need so much, because too much theory no good.
Then feel little confident, start Attack small... so to lose small first and gain small setback n learn from it.
So cutting few K loses per stocks is not painful. Compare to u have to cut >10k per stock if u bet big in one stock. Diversify important bcos u r not Pete lynch or WB.
As u learn, n grow, u add stakes! As u experience more n more skillful, less diversification.
Can have headache but cannot have incurable migraine!