Tom Nash
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A Millionaire's Guide to Growing Your Portfolio Past Seven Figures
🕑 Added 2025-01-04 12:28:20 +0000 UTCPersonal story, listen but don't judge.
When I decided to go to law school, I imagined my life looking like an endless reel of “LA Law” highlights: sleek suits, epic closing arguments, and enough high stakes courtroom face offs to fuel a dozen HBO specials.
Reality turned out to be more “Doc Review Mountain” than “Perry Mason.”
I realized I’d been hoodwinked by prime-time TV. Gone were the dramatic stare downs in court, replaced by mind numbing hours of combing through obscure case files, like sifting sand for gold in the Mojave.
I got clickbaited into a career I never wanted.
Investing suffers from a similar perception problem.
If you watch social media, it feels like an easy way to become rich. Buy low, sell high, and watch the money pile into your bank account, all while you are on a private beach sipping mojitos.
If you started investing in 2023 and onwards it may actually feel that way, but that couldn't be further from the truth. You are playing a video game on rookie mode, and you have no idea what is coming, the moment the market switched from rookie, all the way to expert difficulty setting.
That time is inevitably going to come and this article is here to prepare you in advance so you don't get caught like a deer in the headlights when it happens.
In a normal market, investing is way more about lonely nights of reading financial reports, building financial models and reading the "Railroad-Highway Grade Crossing Handbook".
And the most annoying part? even when you do the work it can feel like trying to dance on a floor covered in marbles, every step you take could lead to a slide or a crash, and sometimes you don’t even see it coming.
That’s why I argue there’s a method to the madness.
If done right, investing can unlock freedoms you never knew existed, whether it’s escaping a dead end job or simply having the peace of mind that you’re not one paycheck away from oblivion.
Let’s get real, though, this isn’t a guaranteed way to sipping mojitos on a private beach. It’s a “build up over time, make better decisions, avoid the dumb mistakes” approach that might land you in a comfortable spot financially and psychologically.
You’ve seen the recent headlines: “Tech Bubble 2.0!,” “We’re Doomed!,” “Buy Now or Regret It Forever!” Everyone, including your Uncle, has an opinion on how you should invest. This article aims to help you build a solid investment strategy with a dash of cynicism and a hint of humor, because reading about PE ratios shouldn’t feel like getting a root canal.
Just my 2 cents.
A word of caution first:
If you’ve ever tried to sort through a thousand YouTube channels, X posts, and clickbait articles, you know the financial world can be an echo chamber of hype. One day, the entire market is singing praises of a “certain AI stock.” The next day, it’s “the bubble’s about to burst!” This article is your shield against that chaos.
We’ll talk about how to listen to the noise but not obey it.
We’ll discuss how to form your own investment theses so you’re not blindly following the crowd.
And yes, we’ll keep it fun, because if you’re bored to tears, you’ll give up before you even begin.
Quick Disclaimer
I’m not your personal financial advisor, nor am I psychic. I can’t guarantee you’ll become the next Warren Buffett, but you might avoid blowing all your cash on meme stocks at 3 a.m. That’s a start, right?
Think of me as your slightly sarcastic friend who’s been around the block, made some mistakes, and lived to tell the tale. You are responsible for your own decisions. Read widely, question everything, and never invest money you can’t afford to lose. If you’re looking for a “get rich quick” button, you won’t find it here, but if you want to build a mindset and toolkit for sensible investing, stick around.
The Mindset of a Savvy (or Cynical) Investor
Let’s begin with what I consider the crucial first step: getting your head straight. Investing isn’t just about picking the next Apple or Google (if only it were that simple). It’s also about handling the emotional roller coaster that is the stock market. Or, as I like to call it, the “Wall Street Tilt-A-Whirl.”
A solid mindset is the backbone of every successful investor’s story. Sure, stock picks matter, but how you react to market fluctuations often has more impact on your long term success. If you’re a reactive type who sells at every dip, you’ll end up with whiplash and a portfolio full of regrets. Conversely, if you’re so stubborn that you ignore red flags, you might sink with a dying ship.
Balance is key, and that balance starts in your mind.
Your biggest enemy in this game? You. FOMO (fear of missing out) can push you into buying at the peak, while panic can have you selling at the bottom. We’re wired to make terrible decisions when money is at stake, blame evolution or your lizard brain.
The market thrives on crowd psychology, so knowing yourself is step one in not getting eaten alive.
Emotions can be sneaky. You might think you’re perfectly rational, until you see a stock skyrocket 50% in a day on zero news, and you feel that itch to “get in before it’s too late.” That’s how millions of investors end up on the wrong side of the trade. Recognize the triggers:
If you find yourself checking stock prices every five seconds, you might be too emotionally invested.
If you can’t sleep because you’re worried about your positions, that’s also a sign you need to step back.
Mastering yourself is the first real milestone in investing.
This might sound contradictory, but “winning by not losing” is often about controlling your impulses. If you buy stable businesses and resist the urge to flip everything at every rumor, you’re already ahead of half the pack.
Think of it like dieting: the “secret” is often to stop binge eating cupcakes. Similarly, the “secret” to investing is to stop binge trading every time Elon posts on X.
People love to chase the “home run.” But those who focus on not losing big, i.e., avoiding blowups, not catching every hype train, often end up with better long term returns. The boring approach of investing in steady, reliable companies and letting compounding do its thing is surprisingly effective. You don’t need to be the stock market hero if you can simply avoid the catastrophic mistakes.
Show Me the Money
I hate to break it to you, but you can’t invest if you’re broke.
A leaky wallet is the enemy of market success. Unless you’ve got a trust fund the size of Mount Everest, you need to handle your personal finances before you waltz into the stock market like you own the place.
The foundation of good investing is good personal finance. If you’re living paycheck to paycheck without any cushion, the market is the last place you should be throwing your money. Start by plugging the holes in your financial boat. You’d be shocked how many people jump into speculative trading with credit card debt looming overhead. That’s like trying to run a marathon with a broken foot.
Yes, it’s dull. But if you don’t know how much you earn vs. how much you spend, investing will be a band-aid on a bullet wound. Track your income, your bills, and your daily “treat yourself” purchases. Know where your money goes.
Budgeting is to finance what brushing your teeth is to hygiene: it’s basic but vital. You don’t need an overly complex spreadsheet, an app on your phone or a simple notebook can do. The key is honesty: if you’re blowing $200 a month on takeout, own up to it. Once you see where money leaks out, you can fix it.
High interest debt is like trying to run up the down escalator, no matter how quickly you move, it keeps dragging you backward. Tackle credit cards first. A portfolio that’s racking up 8% in gains is pointless if your debt’s interest rate is 22%.
Pay off that plastic, then we’ll talk about stocks.
I can’t stress this enough. Paying down high-interest debt can deliver an immediate return—equal to the interest you’re no longer bleeding out each month. Imagine “investing” in something that guarantees you a 22% return. That’s effectively what you do when you eliminate 22% credit card interest.
Life happens. Jobs get lost, cars break down, and we all know that one friend who invites you on a spontaneous (and expensive) Vegas trip. Set aside enough cash, three to six months of expenses, before investing. It’s not sexy, but it saves you from selling stocks at the worst possible time.
Few things are more tragic than someone forced to liquidate a good investment at rock-bottom prices just because they need rent money. An emergency fund prevents that scenario. It also lets you sleep better at night knowing you can handle a minor crisis without scuttling your portfolio.
Laying the Groundwork
Now that your financial house isn’t on fire, let’s talk about investing fundamentals.
Think of this chapter as your “Investing 101.” If you walk away understanding compound interest, the difference between stocks and bonds, and how dividends work, you’re already ahead of half the meme stock crowd. Fundamentals might not be flashy, but they’re the bedrock of sensible investing.
Compounding is the closest thing to magic in the finance world. If you invest consistently, your returns can earn returns, and then those returns earn returns, and so on. It’s like a game of financial Jenga, except it grows taller instead of toppling. Start early, be consistent, and let that compounding monster do the heavy lifting.
Albert Einstein allegedly called compound interest the “eighth wonder of the world,” and who are we to argue with Einstein? If you start at age 25 instead of 35, that decade can translate into a massive difference by the time you retire.
The trick? Patience and consistency. Instead of trying to time the market, just keep feeding it regularly. Over decades, the snowball effect can be astonishing.
As an investor, these are your 3 ways of deploying capital:
Stocks: Ownership in a company, basically a ticket that says “I have a piece of Apple.”
Bonds: Loans you give to corporations or governments. They pay interest, and hopefully you get your principal back. (If you’re into slow and steady, bonds can be your jam—but not always in a rising-rate environment. Life is complicated.)
ETFs: Think of them as a buffet of stocks or bonds. Instead of picking single names, you get a basket. It’s a decent way to diversify without needing to memorize the entire SP 500.
Understanding these three is the core of a well rounded portfolio. Stocks can offer growth, but can also be volatile. Bonds are usually steadier but can suffer when interest rates rise or if credit risks spike. ETFs package everything neatly, making life easier for the average investor who doesn’t have time to research every single company on the planet.
But What About Dividends Tom?
Dividends are like tiny paychecks for doing absolutely nothing except holding a stock. Companies share their profits with shareholders, which can add up over time. Dividends won’t make you an overnight millionaire, but they’re great for compounding and building passive income.
Dividend reinvestment is a big deal. If you automatically reinvest your dividends, you’re basically adding extra logs to the compounding fire. Over many years, that can significantly boost your returns. Just be sure the company paying dividends is financially solid; a high dividend yield can sometimes be a trap if the underlying business is weak.
Macro Madness—Reading the Economic Tea Leaves
Ever notice how everyone freaks out when the Fed chairman clears his throat? Macro factors like interest rates, inflation, and currency fluctuations, can jerk the market around. But let’s not get carried away.
Macroeconomics is like the background weather system. It’s not the end all be all of your investment decisions, but it does affect the tides. If you ignore major economic shifts like a recession or a sudden change in monetary policy you could be blindsided.
However, obsessing over every headline from central bankers can also drive you nuts. Pick your battles.
Sure, rates affect borrowing costs, inflation hits corporate profits, and a strong dollar can hurt export driven companies. But you can’t spend your entire life glued to every central banker’s statement. Focus on the big trends without turning into the guy who hoards canned beans because inflation might tick up 0.1%.
The best approach is to stay informed but not paralyzed. Know that rising interest rates typically put pressure on growth stocks, while falling rates can fuel speculative mania. Understand that high inflation might favor commodity plays or inflation-protected securities. But also realize that markets can be irrational for longer than your sanity can hold. Balance is key.
When rates go up, borrowing gets more expensive, stocks can suffer, and bond yields rise.
When inflation climbs, your money loses purchasing power, and folks scramble to find hedges (like real assets or inflation resistant stocks).
A strong dollar might be good for your overseas vacation, but not so hot for multinational companies whose profits shrink when they bring foreign earnings back home.
You don’t need a PhD to grasp the basics of how interest rates and inflation affect your portfolio. But you do need to understand that these forces can create short term turbulence. The best defense? A well structured portfolio that can handle a variety of economic climates, plus a willingness to ride out inevitable bumps.
The Dark Arts of Stock Picking
Stock picking is often hyped as the realm of wizards. Truth is, there’s no crystal ball. But you can arm yourself with some basic analysis to avoid investing in dumpster fires.
There’s a big difference between “trendy stock picking” and legitimate fundamental analysis. The latter involves rolling up your sleeves to understand a business’s financials, competitive advantages, and risks. While it won’t make you omniscient, it dramatically reduces the chance you’ll buy a company right before it declares bankruptcy.
First Thing You Need To Do: Get Friendly With Balance Sheets
Relax, balance sheets are just the fancy term for “what a company owns and what it owes.”
You want to see more assets than liabilities, obviously. If they’re upside down like a confused turtle, lots of debt, minimal assets, that’s usually a red flag. Also check if they’re consistently profitable or if they’re forever “on the verge of turning a profit.”
A quick glance at a company’s balance sheet can reveal big red flags. High debt isn’t always a deal breaker (some companies manage leverage brilliantly), but you want to see that they can handle their obligations comfortably. If a company is burning through cash while piling up IOUs, you might be witnessing a slow-motion train wreck.
Next Up: Ratios
The PE (price to earnings) ratio basically tells you how much you’re paying for each dollar of earnings. A sky high PE may signal growth potential, or it might be an overpriced stock. PEG, price to sales, return on equity… there are a zillion acronyms.
Know a few, but remember: no single ratio tells the whole truth.
Financial ratios are like quick snapshots, but none of them is the entire picture. Use them as starting points, not ending points. Also, be mindful of comparing ratios across different industries, what’s normal for a tech startup can be wildly different for a utility company. Context matters.
Watch Out - Red Flags
If the CFO resigns abruptly, the CEO is indicted, or the accounting is so convoluted it might as well be ancient runes, tread carefully. Great companies don’t need shady magic tricks to make their numbers look good.
Corporate drama often foreshadows financial trouble. Be especially wary if a company delays earnings reports repeatedly or changes auditors more often than you change your socks. If you see these signs, dig deeper before you trust your hard-earned cash in their hands.
Sector Deep Dives—Finding the Next (Real) Opportunity
Diversification means looking beyond tech giants. Every sector has its own cycles, heroes, and villains.
Sticking to just one sector is like ordering the same meal for breakfast, lunch, and dinner, you’ll survive, but you might miss out on other tasty options. Different sectors react differently to economic conditions. Tech might soar during expansions, but energy might spike if oil prices go through the roof. By exploring multiple sectors, you can find opportunities and balance out risk.
Tech Stocks
We love them, we hate them, we can’t live without them. From stable behemoths like Apple or Microsoft to meme worthy newcomers, the tech sector is always ablaze with hype. Evaluate actual revenue and innovation instead of just buying because your friend told you it's going to the moon.
Tech is thrilling but can be perilous. Today’s hot startup can be tomorrow’s cautionary tale. Always look at how a tech company plans to sustain growth are they reliant on one product? Do they have a moat? Or are they just making noise until the next fad comes along?
Speculative Darlings: AI, Quantum, Crypto, Etc.
Be careful. These can be gold mines or money pits. You’ll hear promises that “this biotech startup will cure aging” or “this quantum computing stock will revolutionize everything by Tuesday.” Maybe so. But does that mean they’ll be profitable anytime soon?
Ask the tough questions.
FOMO is strongest in speculative sectors. Everyone wants to get in on the ground floor of “the next big thing.” But ground floors can turn into basement sinks. That doesn’t mean avoid them entirely, just go in with open eyes, expecting high risk. A small speculative allocation can spice up your portfolio, but make sure the rest of your holdings are grounded.
Portfolio Construction—Not Just Throwing Darts
Building a portfolio is like cooking a gourmet meal. You need balance. Too much hot sauce (a super volatile stock) can ruin the dish, too little seasoning can make it bland.
A well-constructed portfolio doesn’t happen by accident. It’s intentional, reflecting your risk tolerance, goals, and timeline. Some folks go heavy on growth; others need income. Some like a dash of speculative plays. The point is to create a “recipe” that matches your taste and keeps you satisfied.
Diversification 101
Spreading your money across different stocks, sectors, and even asset classes (like bonds and real estate) reduces the odds of a single meltdown nuking your net worth. Aim to diversify enough that a crisis in one corner of the market doesn’t blow up your whole portfolio.
Diversification isn’t about buying 37 random stocks. It’s about a strategic mix across industries and asset classes. If everything in your portfolio goes up or down together, you’re not really diversified. True diversification means some holdings may zig while others zag, smoothing out your overall performance.
Asset Allocation
Stocks for growth, bonds (sometimes) for stability, and maybe a bit of cash for when opportunities arise. The exact mix depends on your risk tolerance, age, and how many gray hairs you have after the last correction.
Younger investors can often afford more stocks for growth, older investors might prefer more bonds for stability, etc. It’s also dynamic: your allocation may shift as you near retirement or if you foresee major expenses on the horizon. The secret sauce is to adjust over time, not just set and forget.
Rebalancing
If one sector skyrockets, it might become too large a chunk of your portfolio. Rebalancing means selling a bit of your winners and redistributing into other areas. This locks in gains and prevents your portfolio from becoming dangerously lopsided.
Rebalancing goes against our instincts because it involves trimming winners and adding to laggards. But it enforces discipline and helps you avoid the trap of riding a hot stock all the way up, and then all the way down. By rebalancing periodically (like once a year or after major moves), you keep your portfolio aligned with your strategy.
Trading vs. Investing—Avoiding the Casino Mindset
At this point, you might be thinking, “Why can’t I just day trade and print money daily?” Because the market is a deeply efficient system, and you’re up against hedge funds with more computing power than NASA.
The appeal of day trading is understandable, who wouldn’t want a paycheck every 24 hours from the comfort of home?
Reality check: day trading often boils down to intense stress, a high failure rate, and competition against machines that execute trades in microseconds. Long-term investing might not have the same glamorous ring, but it tends to be far more sustainable.
Day trading can feel like trying to outrun a cheetah. You might make quick money, but can you keep doing it consistently? Long term investing is slower, but it doesn’t give you ulcers every time the market opens.
Most legendary investors: Buffett, Munger, Bogle, all preach the power of long term compounding. Short term trading is a high-wire act. If you have the stomach for it and the skill, great. But for the vast majority, focusing on steady, long range gains is a safer bet. Let compounding do the heavy lifting.
Common Pitfalls
Overtrading, or buying the rumor and then panicking when the news doesn’t move the stock, or jumping ship at every little dip. If you trade on every bit of gossip, your broker’s going to retire before you do.
Commissions might be lower in the age of zero-commission brokers, but overtrading can still kill your returns. The real cost is often emotional: you’re more likely to make a rash decision when you’re hyper focused on every price tick.
Keep your trades intentional, not impulsive.
Bear Markets, Crashes, and Other Times to Freak Out
The market doesn’t just go up. It crashes, sometimes spectacularly. Looking at you, dot com bubble, housing crisis, and that interesting year we all want to forget.
Eventually, every investor experiences a market downturn. It’s not a question of if, but when. While scary, these moments can also present incredible opportunities if you’re prepared. The key is not to let fear override logic.
History of Bubbles
Tulip mania in the 1600s, the Great Depression, the .com bust in 2000, it all shows people lose their minds when they think easy money is everywhere.
History repeats itself, or at least it rhymes. Understanding past bubbles teaches us how quickly market sentiment can shift. In each case, people believed “this time is different”, famous last words in the investing world. Remember, if something seems too good to be true, it usually is.
How to Survive a Crash
Keep your cool.
If your portfolio is built on good companies, they’ll likely bounce back (unless you picked all-time trainwrecks). Have some dry powder (cash) to buy bargains if you can stomach it. Sometimes the best deals happen when everyone else is selling in a panic.
The worst thing you can do during a crash is panic sell good stocks. If you’ve done your research and believe in the long term viability of your holdings, use a crash to buy more at a discount. This approach takes nerves of steel, though. If you can’t stomach the volatility, consider safer investments or a bigger cash cushion.
When to Buy, When to Sell
This is the million dollar question, right?
In a crash, if a company’s fundamentals remain strong, it might be an opportunity to buy. If it’s burning cash with no sign of profit, a crash might bury it for good.
Your decision should hinge on the underlying health of the business or asset. Some companies merely get dragged down by broader panic, they’ll rebound. Others truly have fatal flaws that only become obvious in a downturn. Separating the two categories is where careful analysis and a level head pay off big time.
The Exit Strategy—Knowing When to Cash In
You made some gains, or maybe your pick just isn’t working out. How do you decide to sell?
Selling is one of the hardest parts of investing. Buying is exciting, selling can be emotionally taxing. Whether you’re sitting on big profits or facing a painful loss, deciding when to exit is a skill you refine over time.
Practice, reflection, and learning from mistakes all factor in.
Selling a Winner
There’s an old saying: “Let your winners run.” Great. But what if that winner is overpriced now?
It’s okay to trim some profit if it becomes ridiculously valued. Don’t marry your stocks.
Sometimes a stock becomes so popular that its valuations hit the stratosphere. Does that mean it can’t go higher? Not necessarily. But if you see warning signs, like unsustainable valuations or new competition, you might do well to lock in some gains. Even partial sells (trimming) can de risk your position without completely abandoning it.
Cutting Losers
Sometimes you have to accept that your genius pick was a dud. Selling a loser isn’t an admission of failure, it’s risk management. Don’t cling to a stock hoping for a miraculous rebound if the fundamentals are toast.
We’ve all been there, holding onto a sinking ship, praying for a rescue. The market rarely cares about your prayers. If the reasons you bought a stock no longer hold (like the company missing milestone after milestone), cut the cord. Free up that capital for better opportunities.
Retirement or Just More Investing
Eventually, your strategy might shift from growth to preservation. That’s okay. Or maybe you’ll just invest until they pry your trading app from your cold, dead hands.
You don’t have to keep the same strategy forever. As your life changes, so should your approach. Maybe you transition into more bonds as you near retirement. Or maybe you have the energy to keep trading well into old age, there’s no one size fits all. Just stay attuned to your needs and goals.
Investing as an Ongoing Journey
Investing isn’t a one and done event.
It’s more like an evolving relationship, some days you’re thrilled, other days you’re sleeping on the couch. Markets change, your goals change, and new “hot” sectors emerge. You’ll never truly “arrive” at a final destination. Instead, you adapt.
Just when you think you’ve got the market figured out, it changes the rules. Perhaps you’ve mastered tech investing, and suddenly biotech becomes the new frontier. Or inflation spikes, and energy stocks take center stage. The only constant is change, so develop the mindset to roll with the punches.
Keep learning, stay open to new ideas, and don’t let arrogance creep in. The market humbles everyone eventually.
The moment you think you know everything, the market smacks you. Continue reading, learning, and listening, just be sure to filter out the hype and panic.
Question everything, even your own assumptions. Why? Because complacency is expensive. The best investors are lifelong learners. They realize the game is always evolving, and the moment they rest on their laurels, something unexpected knocks them off their perch.
You’re swimming in the same waters as giant hedge funds, quirky retail traders, and algorithmic bots that never sleep. Keep your eyes open, manage risk, and remember that nobody cares about your money more than you do. Oh, and if you see something that promises guaranteed double-digit returns every month, run. Fast.
Bold claims often mask big risks or outright scams. Skepticism is your ally, embrace it.
The world of investing is full of smooth talkers, market manipulators, and psychological traps. Arming yourself with knowledge and a healthy dose of doubt can save you from disaster.
Your Personal Financial Checklist
Pay down high interest debt.
Build an emergency fund.
Set up automatic investments each month.
Diversify across large market ETFs.
Rebalance periodically.
Don’t panic when headlines scream.
If you only take one piece of advice from this entire article, let it be this checklist. It’s a simple but powerful roadmap to get your finances on track, protect you in emergencies, and give you a solid foundation for investing.
Top 10 Classic Mistakes to Avoid
Investing money you can’t afford to lose.
Chasing hype without doing homework.
Ignoring company fundamentals.
Failing to diversify.
Panicking and selling during every market dip.
Holding losers forever, hoping for a miracle.
Betting the farm on one stock.
Trying to time the market perfectly (it’s impossible).
Not having a plan and winging it.
Confusing short-term market noise for long term trends.
We all make mistakes, but at least you can avoid the common ones if you’re aware. The hardest one is probably #5, panic selling.
In the heat of a market drop, emotions run high. But if you keep a level head, you can survive (and even thrive).
It’s also worth highlighting #7: going all in on a single stock is like putting your entire life savings on one roulette spin. Might work, probably won’t.
And that’s it. Hopefully, you’re leaving with more insight and less confusion. If nothing else, you’ve learned that half the battle is controlling your own mind, and the other half is not being swayed by every manic headline. Investing can be rewarding, but it can also be brutal if you wander in blindly.
Now go forth, make some money (or at least try not to lose it all), and keep that cynical edge sharp. You got this.
DCA into the afterlife,
- Tom
P.S.
Keep reading, keep questioning, and keep refining your strategy. The market is a moving target, and your approach should evolve with it. If you can develop a thick skin, a rational mindset, and a healthy sense of humor, you’ll be better equipped to navigate the ups and downs, and maybe even crack a smile on the worst days. Good luck!
Comments
Generico Fakero
I hate large language models they make me cringe
Pam
An excellent short form primer on investing throughout one's life by addressing all the common issues. Exceptionally well written, Tom, and I'm wondering if you had help from ChatGPT? If not, well then, double the kudos to you!
Generico Fakero
🙏
cindy chen
Ditto everything Jack said. You are such a good teacher in distilling skills, knowledge, mindset, attitude that are required of a successful investor. Investing can feel like a psychological warfare and it's great to have you as our coach. Thank you for your generosity in sharing your experiences and knowledge.
Hefrich21
Very nice written Tom, thanks for you effort
Learn To Dance
Thanks Tom.
Island Boy
Timeless wisdom for sure. For other readers, please don't shoot the messenger but there is a peer-reviewd article on why 90% of traders lose money here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4849877. If you think you're special and in that 10%, I applaud you lad for honorable delusion.
Pascal
Thanks Tom, These wisdom words for a new investors like me is very precious. its very very difficult in our days of over-information to disctinct the way forward at the beggining. . Keep up the good work skip :)
Tosh_Thym
This was a great read with loads of good advice, especially for a newbie like me. Thank you Tom✅
rv
Very insightful .Thanks Tom. I really and i mean it, really need to learn the art of "letting my once winners that turned into losers go" or learn to track when my winners are turning into losers to let go of them sooner instead of bag holding them for a long.. time :)
Sane Max
Thanks for the article! For me, I think it worked well to hold on to losing stocks as in that waiting period I could have realized losses multiple times. Totally agree that one of the keys is not making big mistakes, I heard it from Howard Marks as well. Yes, I guess 2024 was playing the game on easy mode, it's funny that I have SOFI stock but I still have not looked into what SOFI is doing.
Paul C
Thanks for sharing Tom.
Ask Immo
Amazing summary Tom! I do like the focus on the mindset. This definitely makes a big difference 🙏
Generico Fakero
🫡
Jack M
That was exceptional Tom, wish I had that years ago! Your article should be a required "life skills" course for every high school or college student. Exceptional, pragmatic knowledge that cuts through hype and theory. Your dash of humor also keeps the reader engaged. I just retired and wish I had the above code book to investing 30 years ago rather than rely on institutional advisors that picked my pocket. Bravo, and thank you for this and your timely market alerts - they're like beacons in foggy waters. I watch them all. Cheers!
Jesse
Excellent write up. Thank you.
JerseyT
Awesome Advice... Thank you
Tim
Modern day Shakespeare 👏
Kelly
Thank you Tom ❤️
