I tend to obsess over things, micro-manager extraordinaire. Last night I lamented over my stupid fucking broken Macbook Pro, because “it’s brand new” and “I was so careful with it.” Bad things happen to good people all the time, total randomness, unpredictable ‘black swan’ events. I know a person who owns a fairly large natural gas business in New Mexico. He is my age, making millions per annum. Fifteen years ago he was living in his car, destitute and without coin. Then the natural gas boom came and he got ‘rich as fuck.’
From 2002-2007, he bought 10 homes, mostly for rental income. He took the rest of his savings and put it in stocks. He entrusted me with a very small amount of money, reserving the lionshare of his $3 million for his own caprices. He started to buy some penny stock, not because he had an edge, but because it was going down. I promised him he’d go ‘back to the car’ if he continued his reckless investment philosophy. We’d talk for hours. I’d chastise him, continuously, for his behavior. With 5 kids, you’d think he’d treat his money more carefully.
The natural gas boom ended, with the collapse of prices. His account fell 100%, losing it all in a penny stock scam. One stock, one bullet, and his investment career died.
The market can provide you with an incredible amount of wealth– and by extension happiness. But it’s gambling. Don’t think it isn’t–because it is. Control your inhibitions and never ‘go back to the car.’
Top pick: VHC