(or, How I was blinded by Love)
Part 3 of 3
It is said that love is blind, but to quote The Teacher, KRS-1 from Boogie Down Production, “Love’s gonna get cha’.
You see, I loved the Fisker Karma story so much that I didn’t get out of my position in Quantum Technologies when I should have. I ignored all the warning signs and gave all of my profit back to the market and lost more chasing the stock downward.
Because I was in love with the promise that the technology represented, I ignored the warning signs of the downward spiral (sounds like some human relationships).
I have since learned to take some profits. But more importantly, I have loss limits that I adhere to.
When it comes to investing, our profit expectations are through the roof. But we seldom have a stop-loss number that if our investment dips below that threshold we sell it.
No matter how we FEEL about it.
On a side note:
The Bridge is Over by KRS-1 is on my list of Top Ten Diss Trax. Why? Has anyone heard from MC Shan since?
Monk Says…
Investing is a game and I teach how to play it. Like Omar said in The Wire, “the game is out there. It’s either play, or get played”.
I recently retired early, and now that I’ve reclaimed my time, I use it to teach financial literacy to the youth, young adults, and the mothers who raise them.
To help spread the message of financial literacy, share this with 3 people:
- Your children/family
- Your good friend
- Your work buddy
Then ask them to give YOU their opinion on this post.
MonkSays.com