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This is a very long rant on what mistakes I made in 2022, and how I will try to correct them and do better in 2023. It’s a message to my future self and is not worth watching for anybody but myself. Yet, I am uploading it because I know nobody will listen to this warning and YouTube will put ads on the video, which will earn me a few dollars.
More specifically, I had to sell some of the (too many) stocks that I own in December 2022, because my portfolio was not fitting my knowledge and experience and was overexposed to risk, without me having any reasonable execution strategy to profit from it. I had employed the buy & hope strategy, and that resulted in me losing nearly half of my money.
In this long rant, I explain (to my future self) more in-depth what mistakes I made, why I made them, and how I will try to avoid them and maybe even profit from them in 2023 and beyond.
The 10 Main Lessons I Learned in 2023:
1. I am dumber than I thought. I shouldn’t have trusted myself, I should’ve trusted the numbers.
2. Avoid overpromoted stocks and companies that use aggressive marketing slogans to lure in capital.
3. Don’t think about the potential return. Think about the risk you’re taking.
4. Don’t meet management. They will lie to you, and you will believe them.
5. Employ the “unanswered questions” entry & exit strategy.
6. Don’t wait for influencers to tell you what to buy. Develop a system and test it in battle.
7. Macroeconomics & geopoolitics matter.
8. Sentiment matters more.
9. Geology matters most.
10. This sector is not easy money. It’s one of the hardest sectors to make money in.
Timestamps:
00:00 Important warning
00:10 Intro
05:35 Don’t trust yourself
17:05 Avoid over-promoted stocks
26:20 It’s about risk-adjusted reward
35:05 Don’t talk to management
45:35 Exiting strategies
55:00 Don’t trust talking heads
01:05:50 Macro matters
01:08:00 Sentiment matters more
01:10:45 Geology matters most
01:15:50 This is not easy money
Important warning:
Antonio Atanasov is not an investment advisor. Antonio Atanasov might own shares of companies mentioned in this publication. Companies mentioned in this video might be paying customers of Resource Talks. Always assume the speakers biased. More specifically, Storm Exploration is a paying customer of resource talks.
The information provided in this publication – and all other publications by Resource Talks – is impersonal in nature and meant for general information purposes only. It is also worth what you paid for it. If you’re not paying for the product, you are the product. Expect seeing advertisements – which will be verbally disclosed – in this video. Before taking any action on any investment, it is imperative that you consult with multiple licensed, experienced, and qualified investment advisors. Get numerous opinions before taking your own decision in the end. The minimum risk on any investment mentioned in this publication is 100% loss of capital.
Shortly: you will lose all of your money and possibly most of your brain cells if you listen to talking heads on the internet. Especially if they have orange hair and no experience (me).
Readers are cautioned that this presentation likely contains forward-looking statements about expected future events and the financial and operating performance of any companies potentially discussed herein. Reality often varies from people’s expectations. Managements like over-promising and under-delivering. If a manager was speaking in here, beware. Readers are encouraged to read the Cautionary Note on Forward-Looking Information and to consult the Company’s Annual Information Form, which is available on www.sedar.com. Reading the full disclaimer on the disclaimer page on this website is mandatory.