In 2018, after I bought all of my stocks in the previous story, all of them look so fresh! I look at my portfolio all day, sometimes I added some shares in my existing companies.
Why did I say it was dangerous? sure, I'm still reading books, but it makes me overconfident. For an amateur like me, it is so terrifying! In my next post, I will share my summary on "Behavioral Investing" by James Montier. Overconfident, as you know it will make you arrogant enough to not listening to other people or books that have opposite thoughts from you.
In 2019, MBAP that I owned burned and also WSKT. I think that is a good moment for me because of that, I humbled. Then I learned that the mining business is out of my competence. Maybe on a big scale, I understand the business model, but one thing that bothered me is an external factor that disrupts a mining company's earnings. Meaning the company can't set the price of the products on their terms. That's what bothered me, so what I do is entirely exit my mining company in 2019. Not like I will never own a mining company, but for now, it is out of my competence, but who knows, maybe in the next time when I know the business much more profound, the decision surely will be different.
My advice for you is, please know what you owned. Maybe on a big scale of the business would be a significant first step.
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