๐ Reminder: cash is a position.
0๏ธโฃ It has a defined risk of zero, unlimited optionality, and it's the only position that makes you patient again.
โฌ You don't need to catch the bottom. You need to still have buying power when the regime turns.
Defense first. Offense later.
https://t.co/RxTbcPkqen
๐ How a good quarter dies:
๐๏ธ Week 1: "It's just a pullback."
๐๏ธ Week 2: "I'll add here, it's cheaper."
๐๏ธ Week 3: "I'm not selling down 22%."
๐๏ธ Week 4: "I'm a long-term investor now."
Nobody plans that. It's the default outcome of having no defense process.
https://t.co/RxTbcPkqen