Comment by chrismarlow9
Comment by chrismarlow9 3 days ago
Oh there's more luck required than that. You have to get lucky many times to win at a 10x stock.
- You have to be lucky enough to find it when it's cheap.
- You have to be lucky enough to hold on to it even if it loses money
- You have to be lucky enough to not sell it when it's at only 5x and hold off for the top
- you have to be lucky enough to have bought enough initially that the return is meaningful to you
These are the thoughts that made me clean up how I invest and stop thinking I'll get lucky at some point just rolling the dice. It's way more luck required than just buying in early.
The 4th point (bought enough that the return is meaningful) is the killer one. There’s always “that guy” that brags about buying TSLA or NVDA in 2015 and having 100x his money. Then it turns out he only bought like $500 worth. Sure, $50K isn’t nothing, but it’s not going to be meaningful to the retirement of someone making tech worker wages.
Of course, the reason he didn’t buy more was because he knew it was a lottery ticket and putting most of his money in the S&P500 in his 401k was obviously more prudent.