I Lost $50k with One Bad Investing Decision. Here’s What I Learned
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Re: I Lost $50k with One Bad Investing Decision. Here’s What I Learned
#2It's amazing how quickly one can go from a "disciplined" investor to making decisions contrary to their principles, regardless of how much you think you believe in them.
I too, found myself making emotional investment decisions throughout this pandemic, despite typically just leaving my money in ETFs and rarely checking them.
Re: I Lost $50k with One Bad Investing Decision. Here’s What I Learned
#3Love to see Crypto as 5% of the portfolio. It's one of the few asset classes that's not very correlated with the overall market, so reasonable addition to classic MPT.
Re: I Lost $50k with One Bad Investing Decision. Here’s What I Learned
#4It's amazing how quickly one can go from a "disciplined" investor to making decisions contrary to their principles, regardless of how much you think you believe in them. I too, found myself making emotional investment decisions throughout this pandemic, despite typically just leaving my money in ETFs and rarely checking them.
It was a perfect storm for me. Other life events – moving, buying a car, burnout at work, etc. – helped create a psychological cascade that eventually won out on one rainy afternoon. Had a few other events not been there, might have been a different story, but that's the point of this guide. Regardless of the event or series of events, it will help keep the strategy clear and psychology more intact.