Another investor, Aswath Damodaran (also a professor of Finance at the Stern school of business in NY), echoes a similar sentiment that investing is to grow your wealth, not make you rich. And emphasises for most that focusing on your main job should be your priority.
I agree it will take a strong gut to hold through but there are other considerations like opportunity cost flotsam mentioned which should absolutely play into your consideration. Having held through many ups and downs in this stock with other LTs here it's not something we're unfamiliar with. However these things are so hard to predict, if we could reliably do so, getting rich would be easy. And we've had a bunch of popular posts in the past here comparing one chart to another as if identifying such patterns is a precursor to identifying generational wealth. I don't think there's any reliable evidence to suggest that is possible to do. And it's primarily driven by a desire to identify patterns. Although they can be self-fulfilling, at that point the price gets away from whatever value is currently being realised and any participants are locked into a zero sum game walking around a bunch of chairs waiting for the music to stop.
As much as that CAN happen, one must also recognise what that thinking can entrench them in. Making an action out of the best information you have and being able to reliably do that again and again to grow wealth is important. That's what Buffet has done. So although he missed out, we can clearly see his ability to rinse and repeat at a compounding rate us all here can only dream of. So missing out on such scales of gain I can only wager he won't miss a wink of sleep on.
Strong believer of this stock and of what reram has verified itself to be thus far, especially our flavour of it. But one must consider all these factors and never kick yourself over a decision.
WBT Price at posting:
$2.72 Sentiment: Buy Disclosure: Held
(20min delay)
