RE:RE:RE:RE:For what it's worth I sold 90% of my position Hi Mono,
I won't take it as rude at all and I appreciate your response. I agree traditional finance 101 would never tell you to put all your eggs in one basket or in my case a lot of eggs but I wouldn't be in the position I'm in if I didn't. Although I have a high-risk tolerance, I did mention I did overbuy which led me to oversell during the selloff last week.
I personally don't diversify for a few reasons but ultimately, I believe if you have a strong belief in one company compared to others why would you diversify. I'm no expert here as I've said many times and I know my approach is very untraditional, but I apply an untraditional approach to sports betting as well. For example majority of sports bets are placed pre game on individual games while my approach is to only bet live in games to take advantage of inefficiencies in market odds which would be similar to a day trader in financial markets and I also focus heavily on the futures markets (bets which are settled at the end of a season), going long and short on teams similar to how hedge funds would on securities.
I can't tell you my exact approach now that I've sold most of my position because it will change with time but I do intend to follow market sentiment, major markets, and most importantly the score SP with the help from you guys posting. I made a tactical decision, somewhat emotional to be fair to sell majority of my position but I did in fact keep about 10% which is probably what I would have owned from the beginning if I had a more diversified, conservative investing approach.
I mentioned in a previous post that I don't have a long-term horizon here nor available capital to average down otherwise I would have. To be honest I've never been so invested in a company before but I've risked similar amounts in the sports betting world so risk wise I'm not really on the edge on my seat with SP movements but I would be lying if I said I didn't over sell last week.
Yes I have an extremely risky approach but I'm only doing this because I can at 25 years old. I'll say my net worth does sometimes fluctuate quite significantly but I'm comfortable doing this at this point in my life given the possible return. I’ve been successful taking this much risk in sports betting and I’m merely doing the same with financial markets with the score