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> So if nothing else... my family has a mantra: Never sell real estate "Warren Buffett: $10,000 invested in an index fund when I bought my first stock in 1942

• deleted 4y ago
  [deleted]
• noduerme 4y ago
  True, but if you can imagine someone even more conservative - my grandfather (and father) had a lot of respect for Buffett but considered him to be a reckless gambler. I once sold 1000 BTC for about $10k, for reasons largely similar to the ones that kept my grandfather from entering the stock market. I think putting $10k into an index fund probably seemed just as insane to most people in 1942 as keeping $10k in Bitcoin seemed to me in 2012. In addition to having run a casino, I'm a reformed gambling addict (as long as you don't leave me alone in Vegas for too long). Part of overcoming gambling addiction and its manifestations in everyday behaviour is that I don't second-guess decisions I make out of being too conservative or, in other words, feel regret for pocketing my gains and walking away. That way lies ruin. And also, as a gambler, I'm an optimist, so I don't think I missed my one-and-only chance to make 50x my money. There's always another spin right around the corner.