My interest in writing about finance is at an end. It’s been an incredibly fun journey over the past 6 years. But the writing has been on the wall for a couple years now, as you can probably tell by the steep drop off in any kind of production around here. I’ve been in a comfortable place with our finances and investments for a long time now, but have never felt comfortable sharing many details about our finances or what you should do with yours.
I’ll be leaving the website up so all the articles up to this point are still around, but there will probably be no new articles related to finances and investing going forward. Maybe stuff to do with the business aspect of photography.
Anyways, I am moving on to other projects.
Photography has always been an important aspect of my life so I’ll be dedicating my time to photography pursuits going forward.
Here is a link over to one of the photography projects I’ll be working on going forward.
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You can look at the back catalog of articles here.
*Had to update this as by the end of day March 2, 2018, along with some further trimming of some stock positions and an infusion of new cash into the accounts, cash has increased further from 62%.
As of the end of the day this Tuesday, cash now makes up
62% 70% of the entire portfolio, up 12% 20% from 50%. An old rich white guy once said:
“It takes character to sit with all that cash and to do nothing.
I didn’t get to where I am by going after mediocre opportunities.”
I’m neither old nor rich nor white, so I’m not sure if that advice applies. Anyways, my gut feeling is that the calm, steadily rising markets of 2017 to late-January 2018 are over. Volatility is back. It should open up opportunities to grab some core holdings at decent prices.
So, I sit in cash and wait for prices to reach my range.
As always, the only advice I have is to do as I say (index, dollar cost average, DRIP, and forget) and not as I do (what I’ve just written about).
You know what would be fun? Listing out all the stupid things I’ve bought and the total money I have lost doing so. I’ve probably made a bunch of errors of omission, but let’s take a look at those errors of commission.
I’d written parts of this in 2015 and never got around to publishing it. I’ve added additional colour commentary to it to finish out the story, so everything in italics are new, 2018 additions to the uncompleted 2015 draft.
Berkshire Hathaway is the company I know the best. This is the company that I would feel 100% fine with holding if the stock market, for some reason, closed for a few years. I would not lose any sleep in that type of scenario. I don’t know if there are any other companies I could definitely say that for with such conviction. 2014 is when I started buying shares. Then, I did an equal amount of selling and an equal amount of buying in 2015 – dumb. Then in 2016, I sold a bunch, like an ass, to buy stuff like Chipotle, which was a big mistake as I eventually sold the Chipotle position after a year at breakeven while Berkshire rose a bunch in 2016. After that, I learned my lesson and implemented my “Never Sell Berkshire Stock” rule: never sell Berkshire, unless it is trading at such an obscene premium that it would make Microsoft at the height of the dotcom bubble look amateurish. Berkshire is a foundational piece in the portfolio. Foundations shouldn’t be messed around with. Oh yeah, and one of these days I should probably get back to recording those shareholder’s letters…