Rules of the game

Discussion in 'New Member Introductions' started by Johnny Evers, May 1, 2021.

  1. Johnny Evers

    Johnny Evers New Member

    May 1, 2021
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    Back in the game and trying to figure out the rules.

    I invested actively back in the 1990s, but since then I had a career and a family and put my money in diversified mutual funds and forgot about it.

    Now I have the time and renewed interest to actively invest 10 pct of that money -- practicing humility and caution.

    By nature I am contrarian, value-oriented, loyal to my ideas. I am influenced by Nassim Taleb's ideas about randomness, risk and the belief that most people in the financial game are charlatans. I see a market that appears to be overpriced by the fundamental valuations of my younger days, and wonder if perhaps investing has become a momentum-driven beauty contest in an economy in which money is flowing into secondary investments rather than direct investment.

    Famous last words, but something seems different about this time. Enormous amounts of money were created last year and I know from my tax colleagues that much of it flowed to people either smart enough or morally ambiguous enough to borrow huge sums of PPP money which will never be paid back. Many of these people make huge sums in the real estate market thanks to favorable tax treatment (and not generating any real positive economic activity.)

    So I have a nagging sense that we are at a turning point in history but have not yet realized it. But I'm not a conspiracy theorist! Just a student of history and geo-politics, cultural trends and behavior of lemmings.

    Anyway, my plan is to study like hell and find 10 stocks, watch them carefully with an eye toward holding them, but being flexible enough to take advantage of better ideas when I come across them.

    I hope to find some good ideas in here, read some smart people and be told off by those who think I am mistaken by any of this.
    T0rm3nted and StockJock-e like this.
  2. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Apr 2, 2016
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    Welcome @Johnny Evers. I enjoyed the intro and hope to see you around. You'll find many like-minded people around here.
  3. Bridget Mallory

    Bridget Mallory Active Member

    May 9, 2017
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    Hi, you sound like an interesting fellow. Welcome to the forum.

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