Loading ...has been ,not in stock picking or lack of Patience ,but in not taking profits off the Table at tops …especially short term tops .I.v had many 10 baggers in the last 40 years ,but as the GURU of Berkshire Hathaway sez….His secret is “Dont lose money ” ,He admits his mistakes and takes his losses before they become catastrophes.My mistakes were not taking profits, then not having enough cash when the cycles turn bullish again.
And from what I hear here that seems to be a Universal problem ! Buy and hold for years is well and good in a long BULL Market ,but poor management in Bear Markets.So …WE are in a GOLD BULL MARKET ,but raising some cash on the down cycles which will occur seems to be a better solution if it affords me the cash at bottoms to take advantage of Bargains ! So hedging at the TOP and going all in at bottoms makes some sense even in a Bull Market.,NO ? It my solution that I hope works for me ,but everyones situation is different to start with.My time horizons have shortened somewhat because of age .Government interference in markets throws everything into chaos because they try to pick winners and losers so thier actions now have to be takin into account .They allow metals to run until it effects the Dollar value then they interfere,which is another reason to hedge at the top ,in my opinion.In the long run Gold will win out,if you survive it ,live long enough,and Government dosent disintegrate ! In the mean time ?