If the market should drop by 10%, will you go bankrupt? If, by chance, your largest positions started to drop, where is your line in the sand: 5%, 7%, 10%, 20%?
Learn from my lessons of 2014, a time in our Lord’s history when “The Fly” showed the world how even an immortal Space Alien Magician (SAM) could lose money by exhibiting gross amounts of hubris, coupled with neglect, and egregious stupidity. A great man once said “everyone has a plan until they get punched in the face.”
Do not permit yourselves to get hammered and punched into the face. At the first sign of danger, flee lads and save your skins–live to fight another day. Don’t worry about me, for I was born to bathe in the fires of hell and toil amidst savagery to cleanse my soul from all of the sins I’ve committed.
Markets look dastardly.
I am down 1.1% for the day and N is your #1 tell for risk. She’s been trading down for more than a week now. I’m afraid the summer doldrums have arrived.
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