Charlie Munger on -50% drawdowns:
"Zero worry. This is the 3rd time Warren and I have seen our holdings cut in half."
"You should expect 50%+ portfolio drops 2-3 times a century. If you can't handle that, you're not fit to be a common shareholder and you deserve the mediocre results you're going to get."
This applies to crypto 10x harder. If you panic sell every -40% on $BTC or your alts, you're ngmi. The real alpha is surviving the pain and staying positioned for the next leg up.
Equanimity > emotional trading.
"Zero worry. This is the 3rd time Warren and I have seen our holdings cut in half."
"You should expect 50%+ portfolio drops 2-3 times a century. If you can't handle that, you're not fit to be a common shareholder and you deserve the mediocre results you're going to get."
This applies to crypto 10x harder. If you panic sell every -40% on $BTC or your alts, you're ngmi. The real alpha is surviving the pain and staying positioned for the next leg up.
Equanimity > emotional trading.