Post
by Roy » Thu Mar 01, 2018 11:05 am
Greetings,
I go back to the epic discussions on the other board, from 2008. I’m a nostalgic slob, even over things like this. Those talks remain my best memories regarding anything to do with investing, with Craig and Tex, and the usual suspects who joined in, and even the relative authorities who were big critics, but an important part of that discussion, or the why Gold is terrible threads, which always referred back powerfully to this concept.
There was always a reason (or a bunch) why the basic HBPP could not or should not work, or some part of it not work, and surely altogether would not work—going forward in the new normal of whatever month happened to be in focus.
How’d that turn out?
Yeah, this time is different (and here follows the well-argued reasons why…). Sure. So was pick-your-month of the last 10 years different, followed by the sometimes well-argued reasons whys.
“Is it different this time?,” someone asked here five years ago. I thought then and feel the same:
" I wonder how many times those five words have been used—and will be used— to justify the abandonment of a good plan. "
It is useful revisiting those threads—way back to the olden days—and what it felt like living through those times.
If one did not fret over the dailies, the experience was and remains, dust in the wind…
Volatile parts, sure. Valuations too rich, I suppose. Too funky, yep. But portfolio-as-a-whole rarely looked this good. Especially when not looking at it. I suspect much the same might be said 10 years from now.
Peace