I hate myself for loving you
While everyone on social media flexes about how well their year went, I’ll play the Grinch and complain about how disappointed I’ve been with the year that has just ended in the hopes that my brokenness may at least soothe your soul, or that you will empathize with my agony. Also, because flexing is toxic.
I’ve probably been in the land of complains for far too long and have adopted the habits of a Karen. I believe that if everyone is grateful, there will be no progress in life. We seek solutions because we are dissatisfied with the status quo. Being grateful goes completely against human nature.
In the spirit of the new year and to keep things positive, we should embrace mistakes and strive to do better every year. Fail faster, succeed sooner.
This piece has nothing to do with the blockchain technology, innovation, or sovereignty. Either you get rich, or you learn a lesson; you never get both.
The following are my opinion and I hope it will give you some insight, it’s probably nothing.
Here goes, I hate myself in taking pride in being a diamond hand when there are clear indicators of over optimism and hopium, or bagholder as others may call it. I hate myself for making a costly error in my judgement. I hate myself for buying the dip too soon.
1. Don’t fight the Fed
I wasn’t convinced when I first heard this phrase. I’m on the camp that believe the Fed cannot raise interest rates because there is simply too much debt. I was thinking this wouldn’t be possible since the government is carrying so much debt and the Fed raising interest rates will absolutely bankrupt them before us.
I was under the notion that there were multiple bids for acquisition in the tech sector which led me to conclude that the party hadn’t quite ended, that valuations were still reasonable, and that there was plenty of liquidity.
However, we have been proven to be wrong. Because market participants are irrational, valuations are completely irrelevant.
Every market relies on liquidity to thrive. The Fed is an important player in monetary policy management. As a result, its actions and statements have the capability to have a large influence on financial markets.
It is probably wiser to align with the Fed’s policies and direction than to try to deploy money too early and too quickly. Moving forward, I’ll most likely retain this in my gigabrain to ensure I have enough firepower to endure through the worst of the bear market.
It’s a horrible feeling not having the money to buy the dip. It pains me to see an asset decrease value and not be able to buy it, especially if you are extremely bullish on it.
2. The trend is your friend until it ends
My portfolio mirrors a rollercoaster ride. Despite knowing that nothing goes up forever and mentally preparing for the crash, I kept convincing myself that my portfolio isn’t huge enough to transform my life just yet.
I’m not a trader, but I wouldn’t mind increasing the quantity of my investments simply by taking some profit when the price is out of whack and reinvesting when it is reasonably priced. Despite being a believer or a Hodler, progress needs time, as such I should be more realistic when things seem overly optimistic despite having a long term investing mindset.
Likewise, I’m not advocating to time the market as I acknowledge that this is easier said than done.
I think it is critical to build a plan and to maintain the discipline regardless of the size of my portfolio. Moving forward, I’ll aim to DCA out the same way I DCA in. As I write this, I have been given the opportunity to practice what I preach. As a result, I’ve been selling the rip especially in this illiquid and risk off environment, stacking cash in hopes to get a better deal as my bags are currently quite heavy.
Anyway, I started writing because that was my 2022 New Year’s resolution. I found the joy of writing and plan to continue writing even when 2022 has ended. The joy of coming up with a fun title and choosing meme is truly fun for me. I hope I’ve added some value to your life, if not a little entertainment. Fingers crossed hoping that I don’t get cancelled for calling people out for being grateful in life in the name of being quirky. My goal for 2023 is to have at least 1% of Arthur Hayes’s Medium followers and net worth. Please help me get there 😊
Thanks for reading, please follow me if you enjoy the way I write and stay tuned for more crypto & DeFi content!
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