g’day dizzan & others sitting on multiple bags already.
well done!
can I ask, respectfully, why you wouldn’t sell a small % to at least take cost out, if not a bit of profit?
I’m as bullish as anyone on MGT, but if I was in your position, I would have sold enough for cost and 1 bag of profit.
now, that’s me and my squirrel mentality, born of many years (32+) investing.
s##t happens sometimes. Another gfc type, Covid gets loose globally, X factor, who knows. But the next crash (market and/or commodity) is only a matter of when. I’m hoping years away, but you can’t be sure it won’t be next week, next month,
I retired early on my investing profits, but it was a rocky road. I was up a fortune in 2000 in the tech boom. Almost any penny dreadful could take off and be a multi bagger in hours/days. It was crazy. I remember 2 of them; UCLOC and SROOB. UCLOC was huge. 20-30+ bags from memory and really quick. However, i was doing what I said, in taking out costs and at least 1 bag of profit. I got ridiculed on the boards at the time, as you could imagine. No one could understand why I’d sell any. Well the tech crash happened and I lost plenty. Many were wiped out. But I ended that year overall +30%, thanks to the squirrel.
the 08/09 crash also hurt, but I’d taken enough out, so that I was still fine after retiring in 2005 (lucky for me, as I cashed up a fair bit then).
so, even though we’re all confident in MGT, no one can predict the next crash in market or IO. That last IO one happened in 12 short days. No one saw it coming. You never do. There were some good posts, I think on fex board from those who lived through that one.
we each have our own strategies and investment systems. But I’d strongly recommend any with multi bags to give some thought to a little off the table. As always, each to his/her own.
I started late, so I’m in around current price. I’ll be looking to buy more if the market fall last nite means red on Monday, as likely.
good luck to all, but don’t forget the squirrel.
hmmm, maybe I should change from redned to squirrel.
cheers,
ned, the squirrel.
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