GREY:XEBEQ - Post by User
Post by
RichesToRagzon Feb 02, 2022 2:49pm
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Post# 34390207
How I went from Riches to Rags
How I went from Riches to RagsIn January/February 2021 I was a multi-millionaire with large positions in high growth stocks like Xebec, AcuityAds, GoodFood, CloudMD, Skylight Health, Teledoc, Plug Power, Ballard etc. etc. Although I was "diversified" with about 30 different stocks across different sectors, I was anything but diversified, since I was invested entirely in growth stocks, with no value stocks to balance things out, and no bonds.
Fast forward to today I'm effectively broke. My entire net worth has been put in these high growth stocks. I'm a relatively early retiree with no cash flow, and no dividend stocks. In order to get cash I have to raid my growth stocks which are extremely deep in the red.
Let this be a lesson to everyone. Learn from my mistakes and be a more conversative investor. Diversify your holdings. Balance growth stocks with value stocks. Buy dividend paying stocks.
Thank you for reading. Feel free to criticize my poor investing skills and my precarious financial position, I deserve it.