RE:RE:RE:RE:RE:RE:RE:RE:Simple Pleasures Very nice life story indeed, but I wonder about the place to be given for speculative securities in a portfolio following a hard financial blow that would have to be bailed out.
In Babe's example, despite the fact that he researched both stocks well, I understand they were speculative stocks and he risked it all.
He was nevertheless lucky in the end and so much the better for him.
Today, Babe is financially well off but he decides to be conservative... Hmmm
In the same two situations, I would have done the exact opposite. It would have taken me much longer to bail myself out, but I would have bought solid securities and the day when I finally managed to improve my finances, then I would have allowed myself to have a more speculative part in my portfolio.