The period of the last 18 months, like all of Joyce, has been a series of epiphanies. I won't dissemble - I have not experienced all the epiphanies in Joyce. But I know they're there.
What I have experienced is the epiphanies of the last 18 months. The true nature of the investing game has been made plain to me. Some say trading stocks is gambling. And the way I do it, it is. I can see that now. And I'm over it.
The need to buy and sell stocks is killed in me now. I may buy and sell stocks in the future, but I'll never need to again.
Right now, I'm sitting comfortably on the sidewalk, with 70% cash and 30% Google, watching the rally go by. I could do this from now on.
It's time to listen to the flowers and smell the birds.
Accordingly, I have selected a new financial advisor. One who is in tune with my new-found understanding.
My wife.
She is conservative by nature, but not afraid of extreme positions. Her advice for the last 25 years has been unvarying: 100% cash, all the time. Kept at interest where it will be safe as houses. Still, her philosophy allows for a small portion to be set aside for the occasional high-flyer that might hit it big.
Last week, she was thrilled watching Rachel Alexandra win the Preakness. Especially at $5.60.
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