james22

It is never a defeat or mistake to course correct. Only to refuse to.

Even once "mature," until the market trades 24/7, bitcoin will always be significantly more volatile.

Young kids should zoom out. Look at the last 30 years. How'd the market do? Despite inflation, deflation, bubbles, recessions, deficits, riots, wars, changing administrations, hurricanes, etc., it went up. So? Be fully invested. Your one great advantage over more knowledgeable and experienced investor is that volatility means nothing to you.

You'd think. But Value investors will only then tell you successful Growth investors are Or: just lucky.

Admittedly, being cocksure at 22 is more forgivable. But only if I'm wrong.

My career in Corporate Planning was longer than you've been alive. We built Long-Range Forecasts for one of the largest companies in the world. How often? Every year. Why? "Events, dear boy, events."

But absolute catnip to the intelligent investor.

The most difficult thing for a young investor to accept is that their intelligence and education, no matter how demonstrable (test scores, grades) and analytically rigorous (field of study, school ranking), gives them very little advantage.

And there are others who assume a different form of risk because they believe they understand the situation. Better to accept it's not understandable.

Most young investors, sure. But not all. And it doesn't follow that father's can't learn anything from their sons. Howard Marks as well? Really? I'd think most here are Value investors and so more likely to be surprised to the upside than down.

You'll be a better investor once you get past believing you can see much of anything.

You repeat myself. "Value" and "Growth" investing have more narrow definitions.

But if you want eloquence: Something of Value https://www.oaktreecapital.com/docs/default-source/memos/something-of-value.pdf

Value investing doesn't define investing. As suggested in the Average age thread, don't be fooled by eloquence.

Lower financial leverage, higher quality, asset-light = Higher valuations

Why Wouldn't Treasury Conduct One Or More Private Sales of GSE Common Stock ASAP After Trump 47 Inauguration? https://ruleoflawguy.substack.com/p/why-wouldnt-treasury-conduct-one

LOL That Growth valuation metrics don't make sense to you as a Value investor isn't surprising. Doesn't mean they don't or won't persist. What BTC iteration would make it worth buying? Will that iteration be significantly more or less expensive?

THE LIGHT SHINETH IN DARKNESS; AND THE DARKNESS COMPREHENDED IT NOT Maybe BTC isn't for you?

This.

I've a 911 T allocation and collect Omegas.

Did Amazon rely on greater fools for success?

You can do well Value investing, of course. I'm not even arguing Growth investing is superior (necessarily). I'm only arguing that insisting on viewing all opportunities thru a value lens excludes many with the highest potential. Amazon wasn't a Ponzi! for the 10 years before it showed a profit.

Tell that to every venture capitalist and angel investor.