Mountain Fist

Three Stocks We're Long With High Conviction

How did I set these qualifications? Geez! LOL Who am I? My point was that somebody losing 10-15% this year is probably beating 99.5% of investors today. Considering that my picks in the past have put me consistently in that top 1/2% (within up and down markets during two bubbles and subsequent crashes), and I'm losing my arse right now, I'm trying to give credit where it's due. And by the way, all that time I was in 100% long positions!

Yes, indeed I have considered going to cash. It would have been a much better choice for me had I done it a month ago. There are deep value plays that just keep getting cheaper, but to take advantage of them or to go to cash now requires me to lock in pretty big losses on what I already own.

When the markets are brutal and being manipulated to the extent they are now, it's a hard choice. A combination of in depth fundamental analysis, with reference to technicals served me well for many years. New money is going to dividend payers that are heavily undervalued, but as to the money already in play that is sitting down massively on the last couple of weeks activity...hmmm?

Contemplating rolling all my stock positions into a business idea. Businesses that stand to profit from economic and market chaos may be the best of all possible places for my money to be now. Many of these types of businesses may not be publicly traded. Any change in my strategy of buying and holding (for 1-10 years) great companies that are heavily undervalued requires me to lock in large losses.

The business plan I am drawing up is a winner in normal economic conditions due to fundamental macro changes that are inevitable over the next 25 years or so, and are accelerating. The real plus is that if they succeed in really screwing up the US economy any further, my business at the least should be just as profitable, but most likely even more profitable. Why? Because I'll be able to obtain my inventory at even better prices, while the product in the form that I'm selling it will benefit people hurting financially.

oldtrdr you may have helped me answer my own question. I just find it hard to lock in the last couple of weeks losses, when one of the things that has made me successful is having the balls to not micro manage and lock in losses when things look bleak. I guess we'll all be watching to see what happens Monday.

I'll be working very hard at this new business, while keeping an eye on the markets and my bleeding portfolio for now.