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Hey Nerds: Blockchain

LeafOfFaith said:
But anyway, that has nothing to do with the issue here. I like my stocks so much that it would hurt to let them go. Honestly, it's like a fucking relationship. I've had some serious lows with them, and some nice highs, and it's like we've been through too much together now! So if I needed to buy a house, I'd probably have to sell something, and then it's like, which baby to choose? Like Solomon cutting the baby in two - no, just give it to her!
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Not good to be so emotional about financial assets. I can understand being emotional about your home, but these are just slivers of corporations.
 
But I get what you mean, sometimes I find myself holding a stock just "for old times sake". But when I eventually sell it, I don't miss it at all.

And if I do miss it, it's so easy to buy it back (unlike a house)
 
The ability to be bearish and know and acknowledge the weaknesses/risks of the corporations that you hold is a great trait. If you still are a buyer/bullish after acknowledging these things then have at it. Nothing wrong with loving your holdings. And things change. Keep up with it. I used to be bullish on many companies that I later changed my mind on (thankfully).
 
I love my little CBII. And if I'm wrong, I don't want to be right.
 
CH1 said:
Not good to be so emotional about financial assets. I can understand being emotional about your home, but these are just slivers of corporations.
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Yeah, I'm probably not expressing it clearly. I love them because I think they're great. It would pain me to have to sell a great company to fund the purchase of some other thing, even if it's a house. I would like to be able to make enough outside of the stocks to do that, though that's logistically flawed because I keep putting free cash into the market since it does zilch in the account.

But anyway, if I change my mind on a company, then they're gone. I fucking hated EA with a passion soon after I bought it, and for a solid two years of being underwater on it finally saw it come back to what I paid, and immediately dumped it. I loved Qualcomm for a while, rode it from $50 to like $80-$90 when it almost merged with Broadcom, but then that fell through and it fell back, and then I started to think, what's stopping Apple from just manufacturing chips in-house, and I ditched it (real dumb move, sadly). I smartly sold off Viacom not too long after buying it because I realized it actually sucked.

So, it's about not wanting to part with good holdings due to a need for cash.
 
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Habsy said:
I'll give you one from my gramps that stuck with me. He used to say "I'm not rich enough to buy cheap things". It's a loose translation but that's the gist. Don't waste your money on crap that won't last.
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Absolutely. In fact, the modern proponent of this is Gary Vaynerchuk, who is constantly saying that people dig their own holes by buying tons of shit they don't need and that don't last. Like, you complain about being broke, but you're busy buying the most expensive sneakers, buying a car that stretches your budget, etc. I fully believe in that.

I remember actually back in law school, at my first summer job, a few of the lawyers and I would go to lunch together most days. In those days I'd always get a Diet Coke with my food. One guy would always just get water. And I finally asked him, how come you never get the drink with the food, and he was like, it costs $1.50 or whatever it was at that time, and thus $7.50 a week, and thus $30 bucks a month, etc. And for what? I've never really been much of a coffee guy, and so I do see people getting 1-3 Starbucks a day and thinking jesus, that's like $25-$75 per week you're spending on coffee.

So I don't apply this to everything. I'll buy Diet Cokes and Starbucks here and there (more frequently than ever in the past 20 years right now actually), but I stay a bit conscious about little shit like that and ask myself "I want it, but do I really need it?" I think Buffett famously deliberates getting a haircut here and there because he asks himself, do I need this $130k haircut (decades of compounded returns and interest)?
 
CH1 said:
Buy stuff when the price is right, not when you need it.

I bought a bunch of shoes on Cole Haan the other day -- 75% off. I don't need them right now, but will eventually.
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Yeah, I do this too. I do it especially with toiletries and food. Like if shaving cream is 50% off, I'll buy 5 of them. Or if juice is two for one, I'll buy a few weeks worth instead of just one week. I do it less frequently with clothes. Though I will say Cole Haan shoes are probably some of the best quality shoes out there. Those things hold up like tanks and last forever.
 
Laggard alert: Thumb. Either it catches up to TRUL (or comes close-ish) or TRUL dumps EOD (wouldn't be the first time and is more likely in downtrends). Either way, risk-reward isn't awful.

EDIT: Woohoo it's working.
 
LeafOfFaith said:
Absolutely. In fact, the modern proponent of this is Gary Vaynerchuk, who is constantly saying that people dig their own holes by buying tons of shit they don't need and that don't last. Like, you complain about being broke, but you're busy buying the most expensive sneakers, buying a car that stretches your budget, etc.
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Those people want to impress others by looking wealthy....but spending more than they make ensures they never will be.
 
The dip buy of a lifetime. In a big thumb trading position with a 17.04 average. Might get a bit crazy with it. Still haven't taken any profits yet. I'm fairly convinced more is coming. Just a lack of volume right now causing the lag. Will almost always correct itself eventually.
 
CH1 said:
Those people want to impress others by looking wealthy....but spending more than they make ensures they never will be.
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LA is maybe the most notorious for this sort of thing. The most common manifestation of it is the person who drives a $100k car but is renting some shithole apartment.
 
TRUL is firmly green. CURA will get there. Cresco almost there.

And Thumb is RIGHT there. Let's go.

EDIT: Profits mother fucking taken. But leaving some on. This is magical.
 
There should be an anti-insta that follows showboaters and posts pictures of where they live, what they eat, etc.

One of my clients has great years and then not so great years, but is always burning through his cash and has burned through all of it on a couple of occasions. He spends regardless of what he makes. So this year he’s probably making $1m but he’s spending $280k per month. He puts wacky deals in front of me sometimes and I tell him not to waste money on legal fees for such a low odds play. His response is always something like, well I’ll just spend it on new rims if not on you to work on this. So what can be said. People do what they want.
 
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