I lost all my capital in 2000 as a 16 year old all in on tech stocks. I learned only buy value names.
Then in 2008, my first year after university, I lost all my money buying the dip on an amazingly priced value stock that was pumping out cash, no debt and could literally buy itself at 2x price with cash on hand. How? Margin.
Another valuable lesson.
Ultimately, buy good names with staying power. Don't leverage yourself as it increases complexity of problem by introducing the element of time and market volatility.
Thanks for sharing your story and keeping this journal. I hope it helps save people some hard earned capital
I lost all my capital in 2000 as a 16 year old all in on tech stocks. I learned only buy value names.
Then in 2008, my first year after university, I lost all my money buying the dip on an amazingly priced value stock that was pumping out cash, no debt and could literally buy itself at 2x price with cash on hand. How? Margin.
Another valuable lesson.
Ultimately, buy good names with staying power. Don't leverage yourself as it increases complexity of problem by introducing the element of time and market volatility.
Thanks for sharing your story and keeping this journal. I hope it helps save people some hard earned capital