This is my dad: https://imgur.com/a/YsNBJRM
I began investing in 2017. I wanted to buy Apple and Microsoft, but he told me they were too high, and I should wait for a crash. And he wouldn't shut up about the coming crash. I guess I internalized what he was saying and ended up focusing on “cheap” stocks and “value investing.”
7 years later, my portfolio is -5%.
I didn't have enough money to buy the dip in 2020 because all of my money was tied up in stuff like $WBA, $SPG, and $SJM. Lol.
Only these past two years, I started to shift strategies and buy good businesses with actual prospects. That's why I'm down only -5% rather than -35%.
I'm just ranting. I can't believe I wasted so much time researching “undervalued” companies and couldn't even beat cash interest. I'm only 29 at least, so hopefully I can still grow my portfolio. But I missed out on some of the best years of the S&P…
Oh yeah, I'm holding some NVDA and yesterday my dad was screaming at me to sell, and how it's too high, and “it can't go up forever.” I was really annoyed, so I created the image above and sent it to him.
Oh, he also lost hundreds of thousands of dollars over the past 30 years. I grew up watching my parents fight over money all the time. Don't know why I ever listened to him.
I did make plenty of my own mistakes, of course. And it's ultimately my fault for following his advice. I think I've learned a lot so I don't feel as much of a need to rely on other people anymore. I guess I'm just really annoyed that he's still saying the same thing as he did back then.
OK, thanks for listening to my venting.
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