What The Financial Samurai Didn’t Tell You

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Lesson 1 and this is THE MOST IMPORTANT lesson ever when it comes to stocks. IF you are going to pick a stock and not an index fund, you MUST have extremely good reasons for buying the stock. otherwise, when there is volatility, you will twist and turn at night and feel like crap when the stock goes down and up and down and up.

The Financial Samurai (Sam), later in the article, says the only reason he bought Tesla stock was because quote “after hearing a friend crow on and on about how much he loved his new model 3, I decided to buy the stock.” Absolutely ZERO methodological in buying the stock. This makes it very difficult to stick through hard times and makes you much more likely to sell before a big run. Very common. Oops! This is why index funds are so popular. You don’t buy an index fund and hate the index fund tomorrow. However if you buy a company, you can buy it and hate it tomorrow. That’s problem #1. Solution: ONLY hand pick stocks you believe in LONG TERM. Someone individually picking stocks and sticking with them can, in my opinion, out perform the S&P. And this is a big mistake as well: so mistake #3: comparing yourself to hedge funds. Hedge funds lock in profits and gains to show their customers they’re doing a good job. To me, I would never trade like a hedge fund - most hedge funds are about selling themselves - as they say, securities are not bought, they’re sold - AKA - a good sales person gets you to invest. Then he talks about: consider capital gains. Folks, ALWAYS consider taxes. The Financial Samurai (Sam) is so right here: so BINGO #1. for example, I’m up a TON on Tesla stock. If I sold today, I’d lose 50% of what I gained in Tesla to taxes. Next: turn your funny money into real assets. So he took his gains and turned them into real assets.

Okay hold up: big mistake here - mistake NUMBER 4: assuming stock returns should be consistent and then playing with the profit when they exceed expectations. Stocks are volatile - I don’t believe you can expect your stock to always average out to an even return each year. Now, I could stand by this argument IF a stock you invest in runs up to your price target and then you shift to buying another stock, that’s okay. A deck of his main bathroom

Further,
The Financial Samurai (Sam) says he believes there’s a 30% chance stocks will keep going up after the S&P just hit a new record high while he thinks there’s a 70% chance commercial real state will be more profitable after 5 years - saying things like the death of the office usually aren’t as bad as they seem.

The Financial Samurai (Sam) literally got nervous about Tesla stock, dumped the stock and decided to buy a spa. the fact that he took his money out of his stock account to buy a spa and shoes and build a deck makes me want to vomit. And the taxes he paid. I force myself to work for BUTTER. If I’m going to spend on butter, I force myself to work a few extra hours to feel the burn to earn the butter.

Remember, the goal of personal finance is always to build wealth.
You invest to build wealth. then you don’t burn that wealth, you use that wealth to turn it into passive income. https://www.cnbc.com/2020/08/21/i-lost-150000-in-tesla-gains-after-selling-70-percent-of-shares-money-lessons-i-learned.html

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