Comment by breck
4 years ago
I love the quote “the money in investing isn’t in the buying and selling but in the waiting”.
I know for me I had the moment where things had gone down to roughly 15% and I questioned my decision making. Learning to wait through those periods is super important. Years ago I made the repeated mistakes of not waiting through those periods and missed out on log gains in favor of linear gains.
Agree that it’s easier as an investor and not a CEO to manage that experience day to day.
For me most of my BTC is in a multisig contract between 3 physical trezors in another continent, so actually I am not able to change my decision just because the price dips. Still, as I'm planning to change my portfolio, I'm afraid more of the execution risk than the volatility.
One thing I can tell you is that banks hate people executing the Kelly strategy, as they expect wealth of people to be predictable so that they can issue loans against it to other people.