I Sold at a Loss 🪃

Short, practical drops on culture and technology. 🚀

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Conviction vs. Credibility 👀

I think a lot about conviction and credibility. I first understood the difference from an early boss (hi Brian!).

In my early 20s I had a lot of the former, and almost none of the latter. I hadn’t built anything. I only had unbridled passion. That’s not enough. My 30th birthday is in January and I am slowly but surely balancing the cosmic scales. My conviction has been put to the test this week more than any other time in 2021. 👇

Humble pie 🙏

This week my conviction didn’t hold. I sold at a loss. I got scared. Worse yet, I had even publicly urged our community to hold the line. 👇

I was intimidated by the ebb and flow of the markets and what seemed like the perfect storm of fear, the omicron variant, and the constant news cycle.

High-growth tech has had an epic run and valuations are through the roof. I’m not smart enough to understand the intricacies of specific market cycles so my default is always be in. I can’t time the market. Mere mortals can’t, so riding the rollercoaster tends to work in your benefit given a long-enough time horizon.

I couldn’t do it this time. I didn’t have the stomach. I convinced myself that somehow the moment we’re in is different and I put myself and my family in cash until we reassess in 2022.

Gratitude 🙏

The funds I sold were down more than 20% (hint: it rhymes with $nark). Ouch!

As a close friend said, sometimes you take a 20% lesson on the chin. That’s life. Learn, reassess, reevaluate your decision making process and move forward. Overall, we’re only up 5% on the year on this account. It’s not red, but it stings. Mix in record level inflation and we didn’t get ahead. 👇

Alas, we live to fight another day. 💪

Thank you for being a part of this community. I hope it gives you a place to be vulnerable, to learn, and to share. 🤝

See you on the path.

- MG