1. We are in a bear market. Everything is down. I’m probably losing more than most here commenting.
2. Millionaires are made during bear markets. That said, nothing can be ruled out. Markets may stagnate for the next 10 years rather than recover immediately. I’m not saying the markets will trade sideways for the next decade, but you can’t rule out the possibility.
3. This may be a controversial comment, but it is a reality. Bitcoin and Ethereum both went up from a couple of cents to thousands or hundreds of thousand dollars. Yet in the worst bear market in history, they have only crashed 70% after going up 1000000000x. Yet people are complaining. Why? Because people don’t see the long term or relative strength of the assets in question. They only focus on the present and the price movement of the asset that is effecting his/her own portfolio now.
4. Not many people make gains in investing because it’s always easier in hindsight. Bitcoin 1c to 100k so what? Some people buy at 1c and sell at 10c. Some people bought at 1 dollar and sold at 20c. Some people bought in at 20k and sold at 5k. Some people lost their Bitcoin wallet full stop. MOST people did not even pay enough attention to even attempt to invest in crypto
5. We talk long term investing. It too is not guaranteed. You buy an asset and decide to hold it for 5 years. You are disciplined and you don’t look at your portfolio every day. Yet come 5 years time, the asset might decide to 100x in year 6 one year after you sold. Or it might decide to 400x in year 3 and then drop 90% in year 4. Then you are thinking why did I not sell in year 3? Or why am I so unlucky
6. Terra Luna Classic. You see Bitcoin and every other crypto 1000000x. Maybe Terra Luna Classic is the one that drops to zero rather than produce any massive gains. Is it unlucky if you invested? No. Past market or asset behaviour does not determine future market or asset behaviour.
7. Hence, I think it’s unfair to label me bigger than any stock. The market is unpredictable in the long run, and especially so in the short run. When I said it was a good time to buy, I gave my reasons, it went up. The company has not done really badly since from a fundamental aspect either. When the LTR lady said buy more at 18c, I said hold your horses. When RAN was pumping fast, nobody knew what was going, and nobody dared to sell. When Terra Luna was pumping, I failed to sell that too. I lost a million bucks. I’m not complaining. OSP, I’m 400k down. I’m not complaining either. Everything is easier in hindsight.
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