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Hi Michael,
Haven’t contacted you in ages, but I do listen to your podcast. You might recall we met up in Saigon a few years ago. I live in Bangkok now.
In a recent interview with Larry Hite, and in one with Salem, they gave examples of taking big bets. Larry risking $500k? to make $3m, or Salem taking options bets on Covid. I’m sure they weren’t sitting around calculating ATRs. Likely it was more intuitive than that. I don’t know of course what % of net worth those bets represented at the time, but they sound like non-rule based bets to me 🙂 So, what’s going on in their heads in these circumstances?
Reason I ask, is I’m in a similar situation with Bitcoin… way longer-term bet tho. If you recall I was telling you about Bitcoin back in 2016-2017, but I’ve been in it deeply since 2014. I’ve only sold enough for living expenses, but now it’s over 75% of my net worth, and has allowed me to get out of the US. But at 75% of net worth I feel like I’m risking my lifestyle now by continuing to hold it so heavily.
Perhaps something you can talk about in a podcast when not doing an interview.
Hope you’re well.
Gene S.
You are buy and hold. I can’t easily persuade you. Why not just have a stop?
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