Owen Rascovitch
speaker
2,532 appearances
9 recordings
1 series
first heard Mar 2019
last heard Feb 2020
Owen Rascovitch’s voice in public audio — every appearance, attributed to the second.
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Appearances
from this action is that I worked it out that all of the investments that I made, of all the bad things that I bought and that I've watched fall, just one of my ones that I should have held on to would have outweighed all of my losers.
So if you think about that and you think about the share market, you can make 100% loss.
That's all you can make as long as you're not using loans or anything weird.
Yeah.
But you can make much more than 100%.
You hear stories of companies going up 500,000, 600,000%, whatever.
And the moral of this story is that if you find something, like an investment and you want to hold on to it, oftentimes it's much better to hold on to it than it is to sell.
So my biggest mistake was actually selling businesses or shares of businesses that were actually exceptional and I got out way too early.
So that's kind of a weird take on an investing mistake, but I think it's a really good one to remember this.
Particularly if you've got ETFs, it doesn't matter if it's individual shares, property, whatever.
So I think the same rule applies.
the opportunity to make a lot more money for sure um morgan housel wrote this fantastic article and the headline was 99 of long-term investing is doing nothing the other one percent changes your life and it's so true so something to keep in mind have you got any others i mean day trading when you've got a day job is kind of makes sense that worry wouldn't work
Have you ever made mistakes like with ETFs or anything like that?
i think that's part of the reason why this is so appealing this topic is because everyone makes mistakes and if you go into investing doesn't matter what type of investing you're going to do or you think you know even if you think about budgets and the mistakes you can make with budgeting and all those types of things if you think it's going to be smooth sailing it's not going to work because there's going to be times when things are really difficult
Now, I've given investing lessons.
You've given some more holistic personal finance style ones.
It's the same.
Like we talk about budgets and we talk about people who, for example, set up a budget and they find out that all their bills are due on the same day or the same week of the year or whatever.
And it just falls to pieces.
You've got to expect that the unexpected is going to happen.
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