This was some year.
Stocks are just going up. If you are long and own 10 stocks I can’t imagine you did poorly. If you did poorly and are long stocks, I can’t imagine you can be helped. You are seriously unlucky and please don’t stand next to me in a lightning storm.
When we started Stocktwits in the fall of 2008, the world was coming to an end and Twitter had not yet gone mainstream. Today, the S&P was up for the 14th time in 16 days and Twitter has a $4 billion valuation.
2010 though is HISTORY. All that matters is 2011 in my business. That’s what makes it fun, scary and addictive.
I worry about 2011 because so many people are confusing a roaring bull market that I have often called ‘iconceivable’ with being smart. Furthermore, many people are piling on shortsellers too when we should be embracing them and encouraging them as they help build real markets.
Finally, I worry because a lot of my profits are unbooked and on paper and some I just have no control over hitting the ‘sell’ button.
Money Managers should also be called ‘Worry’ Managers.