Too much greed could make you buy an option expiring in two weeks, because you wanted to momo it, but then trump announces tariffs, and that buy goes bust.
Don’t put too much if you don’t have a strong heart
the way i do it (and occasionally go against it and lose) is to identify 3-4 stocks that dropped significantly that I believe in long term, and buy 3-month or so out calls, in the money but not too deep.
My portfolio already fluctuates in 6 digits on a daily basis. Still sleeps well so far.
that makes it ~10M. hanera, take note.
That’s a large portfolio 1% drops in a 10M portfolio isn’t too bad.
Train yourself to look from a percentage viewpoint. That’s the only way to scale.
Last 4 or 5 years, I follow similar strategy with 160 tickers, but instead of calls, why do not you make stock buys and hold it?
too slow, that’s why, i do have buy and holds, though.
I can’t help, but think that some of you guys are slumming it - bayiew/east bay/south bay burbs. Trading in the 8 figure range, but living in the million dollar shack. 10% daily swings takes a strong stomach. I can see why there’s so much nervousness when the stock market takes a hit.
It takes ~3M to get a nice house in the peninsula. I have to side with SFDB, live a little!
Obviously you’ve lost touch with SB prices. $1M won’t get you a piece of land. $1.5M probably get you a piece of land with a fixer upper.
Doesn’t change the meaning of what I said.
Watching 100k fluctuation in your portfolio. Returning 25 to 50% (2.5-5M) a year and expect to in the future? Go collect your 2 and 20. Get your returns audited and use it as marketing.
Yes @manch, please use some of that wealth and buy a nice home in Palo Alto. Get out of Bayview.
I heard Buffett is sluming in the same old shack for decades.
His methods might not be applicable to you. You need to enjoy life a little. What good is money if it’s only paper money.
He is referring to you too🙄
Im sure buffet is enjoying life more than any of you can
In addition to money, he also has fame and power. Fame and power can derive more satisfaction than money to some people.
Power is the key. Bill gates is calling none of you guys, but he is having mcdonalds with warren
You can always use money to buy power and fame.