Great read Arny. I feel you are being a little hard on yourself. You managed risk at certain stages and I don’t think that you can view this as a mistake just because the share price rose subsequently. I’ve seen far too many concentrated portfolios (especially on FinTwit in 2021) get blown up due to a lack of risk management.
Having a process that you follow during the good times and the bad is far more important than missing out on some alpha in one particular instance.
Thanks so much Wolf for your words. Probably I am too hard, but I do seek to frame the mistakes so that next time I can manage better what I could manage better. I think reducing to a more "base" position at that point was sound, I just need to calibrate better according to the circumstances!
You are right, in order to finish first you need to first survive. With immature companies safety is paramount.
Great read Arny. I feel you are being a little hard on yourself. You managed risk at certain stages and I don’t think that you can view this as a mistake just because the share price rose subsequently. I’ve seen far too many concentrated portfolios (especially on FinTwit in 2021) get blown up due to a lack of risk management.
Having a process that you follow during the good times and the bad is far more important than missing out on some alpha in one particular instance.
Thanks so much Wolf for your words. Probably I am too hard, but I do seek to frame the mistakes so that next time I can manage better what I could manage better. I think reducing to a more "base" position at that point was sound, I just need to calibrate better according to the circumstances!
You are right, in order to finish first you need to first survive. With immature companies safety is paramount.
I love that quote “You are right, in order to finish first you need to first survive” and so true, compounding summed up
great take bud, thank you, cheers!
Thank you for reading Mav!