Yesterday I was at the doctors and got a call from Max that he was involved in a car accident on his way to work. He sounded calm and I asked him if he was hurt. He said no. He Facetimed me the damage and scene to show that it was not his fault (which it was not) and I headed over to the accident scene.
An older woman had run a red light, causing a young man to swerve all the way across the intersection to try and avid hitting her, to only hit my son Max who was on his way to work. Luckily for Max he was just starting to accelerate from the green light and the car hit the front of his car.
I spent the day with Max waiting out the police report, the gathering of insurance and for Max to file his report with the insurance company. The tow truck took Max’s (and Rachel’s) car to the collision centre and our insurance allowed max to rent a car while he waits for his car to be fixed. It was a good lesson for Max on the dangers of driving and also patience.
I share this story so everyone hopefully drives just a little bit more carefully today.
Speaking of careful…
I have been too careful with my Apple position.
Today it closed near $310 and nearly 1.4 trillion.
In the last year it is up nearly $600 billion (or one Facebook).
Here is the one year chart—
Last December I was becoming the Apple fund as I bought it each 10 points as it dropped to $160.
This year I have been a little too quick to sell sone of those shares at $260, $270 and $280. It is still my largest dollar single stock position.
Above Avalon spends a lot of time covering Apple the company and had a great piece on their $500 billion 2018.
Last week I shared a great piece on the ‘art of not selling‘ that people loved. I agree with the premises in the article, but I still have my personal risk profile and comfort level that I stick too and as Apple grows to over 20 percent of my stock portfolio, I sell some. Obviously I would be wealthier if I had let Apple become 100 percent of my portfolio the last 10 years, but last December would have felt like hellduring the 50 percent drawdown and who knows if I would not have panicked and sold my shares on all the negativity in the moment.
The art of not selling and the power of compounding are important tools and guidelines to help you build your own risk profile.
Investing is very hard and is also very personal.