It's Tough Out There!
Hello once again fellow Fools!
I was just looking at my CAPS scorecard, and geez, will Dry Ships' run ever stop? I'm thinking of changing my screen name to TMFDryShips, because that one call seems to be dominating my entire CAPS performance lately. I'm down about 1,200 points or so on that call alone - ouch!
Daily I struggle with myself as to whether or not I shoud finally capitulate and throw in the towel on that stinker. So far I haven't, but it's not fun losing 1,000 score points over a month - and having one single call be the main catalyst for that implosion.
And if that weren't enough, over on my stock-picking blog, EldrehadsPicks, it hasn't been much easier. My inagural pick, Red Robin, plummeted 5% on the first day! My second pick, Flowers Foods, was an immediate loser too. Of course, just to be consistent, October's pick (which was released earlier today), Lufkin Industries, is also in the red as of this writing. Okay, none of them is, at this point, underwater by very much - but still - it seems like not that long ago I was Top Fool, and today I'm out of the top 10, and my stock-picking blog, for which I had (and still have) high hopes, is 0 for 3.
It is tough out there!
I check my CAPS pick lists daily (sometimes hitting 'refresh' over and over again just to get the latest data to feed my 'fix') and find myself fretting over short-term price fluctuations much more than I think I should or would like to admit.
Ahhh... but therein lies the silver lining.
I fret over short-term price fluctuations in CAPS! I fret over the minute-by-minute price changes of DryShips. I fret over noise-level changes in price for my EldrehadsPicks selections.
And while I do check my real money portfolio from time to time (generally daily), I don't fret over short-term movements there at all. I get a lot of that out of my system here in CAPS - and that, to me, is a good thing. Whether or not to exit my call on Dry Ships is something I struggle with daily. How well my real holdings are doing minute-by-minute doesn't even appear on my radar.
While I've always tried to keep my investing focus on the long-term, having a safe place to 'play' and fret and moan and groan and gnash my teeth over inconsequential daily price fluctuations helps keep these emotions out of my real life portfolio.
And for that, this Fool thinks himself a better investor.