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Message: Chilton on the value of ignoring the market....

A year or so ago I read David Chilton's "Return of the wealthy barber"....In it he told the story of his Dad, who had come to him for advice on selecting a mutual fund. Chilton suggested a dividend fund trading around $10 per unit to his father and his dad put something like $25,000 into it. A few years passed and his dad called him up to talk to him about the fund. When Chilton got there his Dad showed him his statement, and said something like "Great choice genius, I put $25,000 into this fund and now its down around $14,000".

Junoir took a look at his Dad's statement....the figure 14,000 wasn't a dollar amount, but rather the number of units he owned, and after having split a couple of times they were worth something like $6 each. In other words that $25,000 investment was worth around $64,000.

I know I don't have the finer details of the story right, the number of units or their prices....but the point "Chilly" (for Dragons Dens followers) was that not watching the market closely can be a good thing at times.

With RVX I sometimes think I should just walk away from watching it every day....trying to interepert every little sign. I've built up a sizeable position, and I'm confident in the potential for serious gains. Maybe its time to put my OCD behaviour on hiatus and play some golf when the weather is good.

When I was a kid I'd stay up every December 24th with the intention of seeing St Nick as he put the presents under the tree....I never saw him, but every Dec 25th when I woke up, sure enough he'd been there.

Here's looking for DM to be my new Santa Claus.

Cheers

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