Chicken Little has exited cryptocurrencies after a second round of trading (see cyrpto post 2, crypto post 1). Winning at Vegas in a gambler's first visit is said to be a curse as it is hard not to return. For now, Chicken Little has no plans to re-enter for a third time.
100% returns flood the brain with dopamine |
These incredible price swings provide plenty of opportunity to make or lose large amounts of money in a very short period of time. Chicken Little was fortunate to escape with a small gain.
Chicken Little made money in both sets of crypto purchases. The average gain was approximately 100% -- meaning Chicken Littles sold at twice the purchase price (on average). However, because the amount invested was tiny as a percentage of the overall portfolio, the gain equaled 0.67% of the total portfolio. This 67 basis points of performance is divided into 43 basis points recognized in 2017, and 24 basis points included in the January 2018 performance.
Chicken Little made money in both sets of crypto purchases. The average gain was approximately 100% -- meaning Chicken Littles sold at twice the purchase price (on average). However, because the amount invested was tiny as a percentage of the overall portfolio, the gain equaled 0.67% of the total portfolio. This 67 basis points of performance is divided into 43 basis points recognized in 2017, and 24 basis points included in the January 2018 performance.
It is too late for Chicken Little |
A lesson, that CL has trouble learning, is that conviction is necessary, but not sufficient to hold an investment. Bitcoin may soar to new heights, but Chicken Little hopes not be involved.
No comments :
Post a Comment