being part of the herd all the time certainly doesnt work. but then being a contrarian all the time also doesnt work, which is why this game is so hard. and this quote always stuck with me
“The CROWD is always wrong at market turning points but often times right once a trend sets in. The reason many market fighters go broke is they believe the CROWD is always wrong. There is nothing further from the truth. Unless volatility is extremely low or very high one should think twice before betting against the CROWD. - Shawn Andrew”
This is such a great comment with a quote that I had never heard before. It rings true through. It's quite sad when I come across people who are contrarian for the sake of it.
Great piece of work Conor - Love the back-testing of the list of stocks from Brian's thread back in 2021 showing how bullish the sentiment was vs what actually occurred. I was personally invested in 2 of the stocks on the list and have exited with losses , thankfully didn't place any big bets and had allocated some 10% of my portfolio to some of these 50x prospects in a bid to silence the FOMO feeling in my stomach without blowing myself up. Still a lot of lessons learned from these small bets.
Appreciate you sharing that added context too. As much as people don't like to admit it, FOMO can get us all, sooner or later. During this period I saw some people get very concentrated in names like this. I recall someone even going "all-in" on Redfin.
being part of the herd all the time certainly doesnt work. but then being a contrarian all the time also doesnt work, which is why this game is so hard. and this quote always stuck with me
“The CROWD is always wrong at market turning points but often times right once a trend sets in. The reason many market fighters go broke is they believe the CROWD is always wrong. There is nothing further from the truth. Unless volatility is extremely low or very high one should think twice before betting against the CROWD. - Shawn Andrew”
This is such a great comment with a quote that I had never heard before. It rings true through. It's quite sad when I come across people who are contrarian for the sake of it.
Great piece of work Conor - Love the back-testing of the list of stocks from Brian's thread back in 2021 showing how bullish the sentiment was vs what actually occurred. I was personally invested in 2 of the stocks on the list and have exited with losses , thankfully didn't place any big bets and had allocated some 10% of my portfolio to some of these 50x prospects in a bid to silence the FOMO feeling in my stomach without blowing myself up. Still a lot of lessons learned from these small bets.
Glad you enjoyed it.
Appreciate you sharing that added context too. As much as people don't like to admit it, FOMO can get us all, sooner or later. During this period I saw some people get very concentrated in names like this. I recall someone even going "all-in" on Redfin.