I made my first investment in 2009. I haven’t looked back since. I’ve won some, and lost some. Nothing comes easy in financial markets.
A few years ago, I started writing my thoughts about investing. It’s helpful to write your thoughts down, and think deeply about what you did right, and what you did wrong. I would encourage everyone to do it. Back in 2016, after a crazy year of political drama and market action, I embarked on the journey. I started writing my yearly investing lessons down on paper. I hope to do it for as long as I can.
“To take a few words from Buffett, if you found your Lebron James, meaning the stock you researched, followed, and are most interested in, don’t bet small just because you are taught to. The Cavs would not pass the ball to Lebron just because traditional basketball rules say ball movement and teamwork is good. Lebron is your star, that one stock is your highest conviction, so let them go to work.”
“I took abnormal risk. I had abnormal gains. I had abnormal losses. That’s what happens. But it happens to everyone. In his thirties, Ray Dalio lost everything. He had to sell his car and borrow $4,000 from his dad to get back on his feet.”
“Each year I do this, I’m reminded of how little I actually know. I think it’s important to accept and reflect on that reality. Someone recently said to me, “every time you meet someone, they know something you don’t.” I think that is a great way to go through life — curious, learning, and listening to all the things you could have never predicted or taken the time to learn about.”