GLN 3.03% 17.0¢ galan lithium limited

I'm not sure you can take as much credit for this as you are...

  1. 375 Posts.
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    I'm not sure you can take as much credit for this as you are attempting to. There is a big difference between being lucky and being right. You have openly admitted on twitter that you don't really have any money to invest in Galan because you committed your investment funds to your mortgage when interest rates went up so much. This of course is a sensible approach as personal debt should be eliminated as quickly as possible particularly in high(er) interest rate environments. However, if Lithium prices hadn't dropped off so much the result would have been completely different. So unless you predicted that lithium prices would fall to this degree (and pretty much nobody predicated this with actual data/analysis to back it up), or your investment decisions are based on the prevailing lithium price (i.e. the technicals), then I think you fall more into the lucky category.

    Also when Munger was talking about money being made in the "waiting" he is specifically talking about a buy and hold strategy (compounding returns i.e. being invested), as opposed to trying to time the ebbs and flows, and messing about with your investments. This is the opposite of how you are trying to use this quote.
    Last edited by HOOPZ: 16/02/24
 
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17.5¢ 259700 6
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