Derek Moneyberg
👤 SpeakerAppearances Over Time
Podcast Appearances
And the market goes down 20-ish percent.
Happens all the time.
Happens every, you know, couple years.
And, you know, you won't be down 20%.
You'll be down 60%.
And for most people, that's about the time that they liquidate.
Yeah.
And then the thing goes up again.
You know?
And he's...
I don't even know the guy.
It's just a random guy writing me, and he's like, you know, yeah, man, but I made so much money, blah, blah, blah.
And I'm just like, oh, you poor thing, you know?
Yeah.
Like, you know, Buffett says, like, a couple times per century, the market's going to go down 50% or more.
Jeez.
And, you know, for that guy, if the market goes down by one-third, your account's at zero.
I remember this.
I was on Canal Street in New Orleans, which is near the French Quarter.
And I remember with one of my buddies, I won't say his name for his privacy, but we met maybe in 2006 or 2007.