Libertarian666 wrote: ↑Thu May 31, 2018 9:14 pm
mathjak107 wrote: ↑Thu May 31, 2018 4:54 pm
i am a big believer in plan around what was , what is and what stands a reasonable chance of continuing then leave slack in the plan .
we can paralyze ourselves with our own visions of every negative thing that can happen and hurt ourselves for really no reason . the biggest obstacle to our own financial success is believing our own bull-shit that we envision in our heads.
my brain pounded me nightly about every negative that could happen when it came to buying in to the real estate partnership i did . i almost did not go through with committing almost 500k to the deal . I fought my brains visions and 15 years letter it was an incredible investment .
If it had turned out badly, you wouldn't think the same way about it.
In other words, just because something turns out well, that doesn't necessarily mean it was a good decision at the time.
Of course the reverse is also true: just because something doesn't turn out well, that doesn't mean it was a bad decision at the time.
if , if and if . if you want to keep doing the if's in your head don't walk out the door . what if you get run over . in fact don''t invest at all , what if you get sick and die by next year ? you will hurt yourself financially with the what if's ,
why not just spend all your money on insurances of all types since we have a whole load of what if's that can or could have happened .
there are risks and ramifications to everything in life . we weigh the pro's and cons and we make our choices .
but many times those visions of what if's will end up hurting you as you stare at the risks in things and end up quite poorer like those gold bugs who used to send me newsletters more than 30 years ago about how markets are collapsing along with the US dollar .
THEY BELIEVED THEIR OWN BULL-SHIT AND ARE A WHOLE LOT POORER FOR IT .
a flexible diversified portfolio does what it needs to as the big picture shifts . as an example while i can't disclose the model's holdings from the newsletter at one time we held lots of interest rate sensitive stuff on the bond side .
for quite a while now the bond side ranges from ultra short to bond funds that are go anywhere and can actually go in to areas of bonds that are helped by higher rates . if the economy slows down better choices will be utilized . been this way for more than 30 years with excellent results .
i don't use a static portfolio that is buy and die and just sits and sits . my main investing portfolio's have always been dynamic and shift a bit over time like nudging a big ship to keep it on course as the dynamics change . if you are wrong it never hurts you , you just don't make as much as if you were right in that instance . but all you need to be is right by more than you are wrong .