My game plan at this point is to respect the concern of my peers and get defensive into the end of the summer. This shall be accomplished through an increased cash position through sales yet to be determined. This will not involve any hedging or exposure to instruments of financial destruction whatsoever, because that has been a stupid, money losing strategy that only benefits the issuing financial companies/thieves (see TVIX).
In a strange way, my success has insulated me and I am afraid that this may weaken me by extension. It is very difficult for me to believe in a market selloff right now, hanging out near all time highs, singing the praises of my ever-lifting positions day and night. I have a blind spot, and while that is fine in some ways (it’s hard to hate on success too much), I need to be wary in others.
To be specific: my own disregard for the technology investments has been a blessing in that the huge selloff this year has not impacted me. But that same disregard makes me disconnected from the realities of the rest of the system.
I have to imagine, somewhere, that this many positions getting cut in half does really matter. But it’s so far away from me.
So I have no choice but to try and outsource this element to people who are closer to it, whom I have confidence in.
Ergo, I shall be concerned, even while I am not concerned. This is the wise course of action. It respects what is a very real trauma to others, even while I, myself, have been more or less unaffected.