Thanks!
I hope when you and /or
@jesselivenomore believe that it's time to sell you let us know! Because I never have a clue about that, knowing when to load up is relatively easy.
That's true. Buying is easy selling is hard. The safest bet with TSLA may simply be not to sell it for several years because the risk of selling too soon is real.
Twice in last 10 years I sold too soon and missed opportunities to multiply my money 20 times in CMG and BiDU. Realize the implications of that.... if I had put $1 million and multiplied it 20 times over twice I would have had $400 million within the span of 10 years! Those are life-changing numbers. I mean that could really change my lifestyle .
I just had an epiphany yesterday. My five-year returns have been in the order of 30 to 50% annualized but my 3 year returns have been approximately 25 to 28% and my one year return has been 17% and year to date returns as of end of February have been 20%.
I'm simply not happy with these numbers and there's absolutely no reason for me to think like a hedge fund manager or a mutual fund manager. Since I'm not managing OPM, why should I constrain myself with annualized returns when I should be thinking in terms of multiplying my money. at the end of the day I'm not investing to create a track record of my annualized returns. that is a fallacy. the reason why am investing is to multiply my money. plain and simple. that is the bottom line.
So from now on I'm only thinking in terms of how many times I am able to multiply my money and I'm paying zero attention to my annualized returns. in 20 years or 30 years from now I'll judge my success not by my track record of 20 to 30% returns every year but by my actual net worth.
How does it all tie to Tesla? Well Tesla is a great vehicle similar to chipotle Mexican Grill and baidu and Google and Apple and Netflix and Amazon etc. etc. to create wealth by multiplying your money several fold in a relatively short period of time therefore unless this stock goes crazy parabolic, the risk of selling to soon is very real so while I monitor day to day stock movements and I'm not averse to short term selling if absolutely indicated, I'm very reluctant to sell too soon. you simply have to be very open minded about the whole process and not have any preconceived notions or biases one way or the other, only time will tell, we will see
Creating wealth is a topic that I'm extremely passionate about and Tesla is one of those rare companies which is likely to be a super stock and a true wealth creater over the next several years I really believe so