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IanTHughes HYP - June 2019 Top-ups

For discussion of the practicalities of setting up and operating income-portfolios which follow the HYP Group Guidelines. READ Guidelines before posting
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Dod101
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Re: IanTHughes HYP - June 2019 Top-ups

#229141

Postby Dod101 » June 13th, 2019, 9:51 am

Alaric wrote:
Dod101 wrote:
You may be right but beware of the danger of receiving comments you want to hear


Isn't that the point of the HYP - Practical board?


Indeed Alaric and therein lies its danger. I have seldom 'jumped on band waggons' and when I occasionally have it has usually not worked out well. I find the HYP Practical Board very useful for ideas as I do the IC, but nowadays I am mostly content to let others get on with it.

Dod

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Re: IanTHughes HYP - June 2019 Top-ups

#229150

Postby richfool » June 13th, 2019, 10:11 am

I can relate to MDW1954 and Dod's so called "smell" test. I would tend to call it a being very wary or cynical test. Maybe based on experience of life and events or the "too good to be true" thinking.

I am, for example, wary of any so called whizz kids, particularly if they go off to set up a new project of their own, or the latest new themes, frontier markets etc. OK I may miss the latest boom with the possibility of a quick buck, but that's not what I am looking for. I am looking for steady, consistent and reliable, and future proof as much as possible..

Gengulphus
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Re: IanTHughes HYP - June 2019 Top-ups

#229438

Postby Gengulphus » June 14th, 2019, 11:22 am

Ian said:

IanTHughes wrote:
Dod101 wrote:As always though Buffett was right with his Rule No 1. Do not lose money. Rule No 2. See Rule No 1. I think avoiding disasters is far more important than finding the ten bagger.

You are very fond of quoting that Buffet gem but never seem to have read anything else from the Sage of Omaha. What about the reaction to losses discussed here?
Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market.

or, the patience is a virtue sentiment expressed here?
If you don’t feel comfortable owning something for 10 years, then don’t own it for 10 minutes.

or
Always invest for the long term.

and Dod responded:

Dod101 wrote:You may be right but beware of the danger of receiving comments you want to hear, otherwise known as confirmation bias.

It seems to me that Ian thinks Dod should take Dod's own advice! ;-)

Gengulphus

Dod101
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Re: IanTHughes HYP - June 2019 Top-ups

#229452

Postby Dod101 » June 14th, 2019, 11:57 am

Thanks Gengulphus. As a matter of fact I did not respond to ITH because it is not normally a very fruitful discussion and because I am familiar with all of the quotes cited and indeed practise the advice contained in them. I think though the most important two rules are those I quoted.

Dod


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