@DeepValueBagger The most important part is you have to have the right amount of risk taking behavior. Too much and you lose, too little and you don’t make anything
Investment is so difficult because it requires you to be good at 4 things.
a) broad knowledge (history, culture, sectors) and deep knowledge (economic theories, companies, finances, market landscape, job/career relevance)
b) sharp analytical skills (weight information or assigning probability outcomes, financial, key metrics, understanding specific businesses, products)
c) psychological strong (self-aware of your own emotion to be bias - confirmation, recency, survival bias, fight the greedy urge, scare urge, and process information analytically, sustain drawdowns)
d) risks taking (you may have a+b+c, but without d, you cannot make money. after all of it, the future outcome is undeterministic/chaotic and out of your control. You have to take some risks for future outcomes.
Patience is the single most difficult skill to master for investing well. Too, the most impactful.
Position sizing trails patience. The more patience, the largera a position can be.
One must not mistake patience for foolhardiness.
A hardy fool is just a hardy fool.
@RKLBMan I’ve had my entire net worth in $RKLB rocket lab since August 2024
Started out with 50k shares, now at 67k
Seen it drop 40% percent multiple times
Most importantly …. I don’t have margin activated on my account
@AlexfromBabylon@Fickifacki123 Strategic Partner:
First launch lost booster ,
Second launch placed the payload in the wrong orbit
Third launch booster exploded
Yes, BO is the launcher of the future