HootingSloth wrote: |Thu, Sep 5, 2024 5:52 am|
As long as one remains honest and fair in his or her assessment, then truth can always prevail. While the original poster’s bet with Tesla (TSLA) proved lucrative, everything since has gone badly compared to benchmarks with similar amounts of leverage and risk as their investments.
It would be unfair for us to judge OP for his decisions; many others have made similar ones before him and few can resist being drawn in by temptation after experiencing success; these psychological patterns and traps exist for good reasons and this forum exists specifically to assist OP with them; rather than criticize, we hope he sees clearly where things stand so he can assess potential future scenarios more objectively based on experiences of many that came before. Learning from others mistakes often provides greater benefit.
Honesty in regards to “exit plans” is also crucial. OP has indicated his displeasure with his current strategy is long term and that “cold turkey” might be his optimal method, given his knowledge. But stopping something entirely involves simply stopping doing it altogether: any declaration like, “I will stop next week if this or that occurs”, does not reflect honestly OP’s priorities and character assessment.
+100 on this. BH can easily forget that most retail investors don’t share his or her investing philosophy and tend to act more like OP than they should. Therefore, his participation here and expressing approval of it should be seen as an enormous step in the right direction – rather than criticize and try to force our way in, we should show him where risk-adjusted paths lie and give advice accordingly.
