OK, since TTI is in a good mood today, let me share a very important lesson/experience/concept/thought.
I never really understand why ppl actually experience FOMO. It just never really happened to me. Like never. Perhaps it's just my psyche. I always think, the world is so big, so many ppl at any 1 point, are making millions. What's FOMO? It's just your perception at that 1 puny incident that happened in your life, that you came across, or that story that you heard. Yet, there are tons of other incidents, similar stories that you haven't heard, but its happening right now as we speak. (I'm sure there's a scientific term for this phenomenon)
And in recent times, there are several examples of senselessness around.
Creative is probably the latest one, although the saga is far from over. Maybe it'd be $10 tom. Who cares? Certainly not TTI.
The bitcoin frenzy not so long ago was another example.
Now, suddenly no more posts about bitcoin. Like zilch.
I only actually know 1 person in real life who has "invested" in bitcoin, and he has lost terribly.
Now the problem with trying to jump on the latest hype without understanding it fully, is that you'd never have the confidence and the guts to go big. And if you do not dare to go big, how much of a reward do u expect to get for the risks (Due to ignorance) you're getting into? It just doesn't make sense to me.
The important lesson is, don't get involved in everything. Seriously. You don't need to. Just do what you know best. And if you really want to get involved, make sure you are at least a semi expert in it. At least.
So what if bitcoin goes to a million bucks? There are ppl minting millions every day. Just because you don't know them, you don't have FOMO. But when it comes to something that you're aware of, like bitcoin or Creative, suddenly you have FOMO.
I know folks who had nothing, and are now billionaires. (ok, not folks. just 1 guy actually). How's that for FOMO? Maybe I should panic and try to mimick him? If you don't know, stay out.
99% of folks jumping onto Creative the past few days, are just hoping for a greater fool. You may actually win by selling out to a greater fool, no doubt, but don't take it as a stroke of genius. Take it that you're less dumb than the guy that you sold to.
Both dummies, just that you manage to find a dumber one.
Don't envy those who have made money this way, and for gods' sake, don't feel you've missed out on something.
Now, I'm not just preaching to the choir. I do feel that I've missed out on something occasionally, but ONLY when I've done my homework, and STILL screwed up. For example?
This! This gives me much much MUCH more pain than all the Creatives and Bitcoins in the world combined.
Now, 1 thing that nobody can accuse TTI of, is of not doing my homework. But the only scenarios whereby I really feel heartache is when I've done my homework and failed to act on the opportunity aka I screwed up. Or misinterpreted. Or got lazy.
Having identified Centuriion at the end of 2016, I conveniently went on a long holiday and failed to act. And I have had superior insights.
The IR even knows my personal mobile and we had looong late night conversations about the company.
I decided to make Centurion my core position, and core positions for TTI are at least 6 digits.
Yet, I failed to act, and subsequently, watched it jump 40%.
That really gave me pain. Even today, I go back and read my own posts with a tinge of regret. Like seeing your ex puppy love gf grow up to become a hot supermodel.
Yes, just 40%. Not Creative's 400%. Not Bitcoin's 4000%.
Why? Cos 1 of them is where I'm the subject matter expert. I had it in my palm. It's an open goal. I should've scored.
The other 2? Nah, I dunno anything about them. It doesn't affect me even 1 bit.
I dunno why everyone else doesn't think the same way. To me, this simple concept is crystal clear.
And lastly, for god's sake, pls develop a sense of skeptism, pls use some individualistic thinking aka common sense. For eg. If I now tell you I grew my portfolio of 5 digits into 7 digits within a few years, the very 1st thought you should have is "REALLY"? If the 1st thing you thought of is "wow! congrats!" or "can you teach me?" Then either go shoot yourself or better yet, just DCA into STI ETF.
Why? cos 5 digits into 7 digits is a minimum ROI of 900%. Within a few years.
To put that into comparison, Michael Burry achieved world fame by growing his investors' assets by something like 420% in just under 2 years. And he did it by being completely asymmetrical, and going full on concentrated, stand against all odds type.
So is 900% in a few years possible?
Yes! Sure it still is. But is it likely? Is it common? I don't think so.
To achieve that, one has to be really concentrated, and be completely asymmetrical, yet proven correct at the end. Not jump into the latest bandwagon and hop on and off repeatedly without any basis.
Note that this is not TA or FA or whatever A.
It's just plain logic.
I dunno if it's something that you're born with, or if you can actually develop it.
I used to think it's the latter. Now, honestly, I'm afraid it's the former.
And if you can't understand at 1st glance, the simple logic behind this message, it's really best to just do something else.
Like buy property or something like that.
Since that uses a different skillset altogether.