I absolutely agree with your points! Especially on 1) only putting in money into something that you know enough about and 2) if you don't know enough about something you won't have the guts go big and therefore your absolute returns would be less.
For me, I know of friends who had vested a significant amount of wealth - 5 digit sum for mid-twenties - into cryptocurrencies and I gotta give them credit for the weeks / months of research they did before jumping in. There's even one who went so far as to read the code on the cryptocurrencies and white paper to be convinced enough. And of course, they did stomach the volatility and did not panic sell during the plunge. These are the exceptions who truly deserve credit.
And wow, I am absolutely impressed by the crazy amount of due diligence you did for Centurion. It's interesting that two people can buy the same stock at the same (undervalued) price but only one has the conviction to hold during market crash or recession. I believe it is the amount of research and due diligence that gives you conviction in your analysis and I am sure you will definitely achieve crazy returns in the many years to come.
Reply to @ThumbTackInvestor : Yeah totally agree with you on this. And you know something is a bubble in the making when 1) a lot of people who didn't do research are throwing money into the asset and 2) these people do not have justification for the current price other than the huge surge in price. And when the bubble pops, these people are the first to panic sell... FOMO and greed in the making ;)
i can't help but think of a young chap who claimed to start with 30k or so at 18 yrs old and accumulated close to 800k at 24 ur old as a student by trading. and it is after gfc hike. really? lol. perhaps. i lack of talent
V well written, TTI, and I share your sentiment.
I’m just trying to figure out the acronym FOMO, what is that?! Haha
Reply to @sgchinaman : Ahhh I see. Thanks for the clarification. Human instinct. Am sure we all do, just the extent.
I absolutely agree with your points! Especially on 1) only putting in money into something that you know enough about and 2) if you don't know enough about something you won't have the guts go big and therefore your absolute returns would be less.
For me, I know of friends who had vested a significant amount of wealth - 5 digit sum for mid-twenties - into cryptocurrencies and I gotta give them credit for the weeks / months of research they did before jumping in. There's even one who went so far as to read the code on the cryptocurrencies and white paper to be convinced enough. And of course, they did stomach the volatility and did not panic sell during the plunge. These are the exceptions who truly deserve credit.
And wow, I am absolutely impressed by the crazy amount of due diligence you did for Centurion. It's interesting that two people can buy the same stock at the same (undervalued) price but only one has the conviction to hold during market crash or recession. I believe it is the amount of research and due diligence that gives you conviction in your analysis and I am sure you will definitely achieve crazy returns in the many years to come.
Reply to @ThumbTackInvestor : Yeah totally agree with you on this. And you know something is a bubble in the making when 1) a lot of people who didn't do research are throwing money into the asset and 2) these people do not have justification for the current price other than the huge surge in price. And when the bubble pops, these people are the first to panic sell... FOMO and greed in the making ;)
i can't help but think of a young chap who claimed to start with 30k or so at 18 yrs old and accumulated close to 800k at 24 ur old as a student by trading. and it is after gfc hike. really? lol. perhaps. i lack of talent
Reply to @shaokheanwong : probably someone with no commitments or from a well-off family
well, maybe a attempt of humblebragging :)