Before You Sell, Do This
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- Опубліковано 9 вер 2024
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I am not a professional investor and have never claimed to be. I'm an amateur investor sharing my experience of what I've learned, where I have had success, and where I've had failures. I share my thoughts on investing and performance with transparency. My approach and goal to investing is to buy high-quality long-term investments in world-class businesses that I call "compounders". I view my investments as businesses, not as stocks. Before creating content on UA-cam full time I worked as a senior-level programmer for 8 years. Over the years as a programmer, I compounded my knowledge of development. I take the same iterative learning approach to my study of investing. I study investing as a craft in the continual pursuit of being better. I will make mistakes in investment decisions from time to time. Results are not guaranteed. Please do not blindly follow me into any investments, and make sure your portfolio and investments are built around your specific income, risk tolerance, personality, timeline, and overall circumstances.
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I sold $2500 worth of Apple stock for a cool 20% gain. In year 2000. 😂😂😂
At least you didn't lose money, you still did good. I bought Tesla at 30 and sold at 40 no regrets.
RIP
Yea... you could have reentered a million times along the way as well.
20% is spectacular.
@@TBasianeyesoh nooooo
If you believe the stock will become a juggernaut hold it until forever or you need the money to do something with.
Besides the bank where can i double my money, I believe the bank is ripping me off
Yeah I have to pull my cash from bank of America yesterday to my real estate till I find a better option
I'm making four thousand dollars every week from stock investment, for me I still want more returns but my Trader says I should not be greedy that is what kills traders accounts.
Hey Mollee, That is a good ROI for me however I hope is not the broker guy in Texas charging 50% to clients how is that even smart for someone looking to make some cash
Hey Mollee, who is your Trader ? I need to grow some funds just sitting in savings
Jennifer Lilibeth Tibbs look up her name, her charge is not outrageous, not even up to 15% and that's how it should be.
That was a wonderful article. I enjoyed the lessons and the 3-bullet summary you gave:
1) Don't fall into hate with your stocks
2) Beware of false narratives
3) Hold your stocks long-term
This article is realy a soothing salve to the hearts of most investors.
Of note, as well, is the message that one can only lose 100% of what they put in, but there is no hard limit to how much someone can gain.
The philosophy that keeping winners will out-do the losers is novel to me.
He used Netflix to illustrate his point, but it is important to note that Netflix is an outlier. Most stocks do not experience the same level of success.
12 minutes of genius. This channel simply sets a very high bar for excellence, Curious, I intend retiring/working much less in 5 years and keen to know best, how people split their pay, how much of it goes into savings, spendings or investments? I earn up to $180K per year, but nothing to show for it yet
Time to start investing as much as you can. Jim Cramer says your first 10k should be in a low cost total market or S&P 500 index fund. That would be like VOO or VTI. I totally agree with him.
Very good article and thanks for sharing this Joseph. The one thing I have learned in last few years with this stock market is: This is certainly not for everyone. The challenge is psychological more than it is anything else. Every day we hear nonstop good, bad and ugly. Seems like we're an in era of TMI, too much spin on anything and everything. The psychological aspect of investing is the toughest, no doubt.
@@EarlOSandwich Very good advice ! Listen to management, read the reports and leave all the pundits out. Very solid idea.
I like posts and videos where the creator can write and speak clearly. One reason I stuck with Joseph is that he verbally delivers the content free from verbal tics, wasted words, and hyperbolic expressions. I may not agree with everything he says. But I always feel that my time is well spent.
This is an extreme outlier. You should not base all your decisions based on the behaviour of outliers. The vast majority of stocks that crash like that never recover, and nobody writes motivational stories highlighting them.
love this type of video! Holding is the best to invest for long term even if you are losing in some of your stocks, there are stocks that will win.
Your video was incredibly insightful, and I admire your dedication to long-term investing. Could you share any other stocks or investments that you've held for an extended period and how they've performed?
Solid advice because taking the time to prepare before selling is crucial for success. Thanks for sharing these important insights.
If you are planning to sell something, it's really crucial to be well-prepared. You also need to be knowledgeable about your product or service, as well as having a solid understanding of your target market and competitors.
His real-world example with Netflix is compelling. I'm curious, have he had any other stocks in your portfolio that have followed a similar trajectory as Netflix, and what strategies do you employ to stay patient during market volatility?
Your video simplifies everything. Thanks for the valuable content.
Great video! This speaker's insights on the importance of holding onto stocks, even through ups and downs, and the valuable lessons learned along the way are truly inspiring!
" When a stock goes down, we focus too much on the negative; when a stock goes up, we focus too much on the positive." Well said.
They say, past is not a good indicator for future gains, the future nobody knows, if even present events are not to be too much taken into consideration, how does this work? How does one know when to sell? Even Buffet sells entire positions these days like tsm etc
@@mircea_h Joseph has a video on when to sell. Check it out.
@@mircea_h your thoughts are stuck in a loop.
Don't worry about what "they" say. Why are they saying what they say? There is a lot we know about the future, and a lot we have good reason to strongly believe, like the 80/20 rule.
Great article with lots of great learning. Would love to see more of these when they appear. Thanks for sharing.
Absolutely great article/video!! I bet you many investors needed to hear this, i know I did!
Thank you! This article is exactly what I needed to hear.
Great content...we have a long journey ahead. Keep learning.
Fantastic video. Buy and hold great companies while ignoring the FUD is one of the hardest things for people to do. Human nature is to sell your winners and hold the losers. Set a five to ten year plan and stick to it. Pay attention to your stocks, largely making sure they are on track for five years out.
Yeah. 100% true 👌
It's hard to argue with this. The problem I have is how do you know which one will be the unicorn? People have been holding VZ, T, and others that have only gone down for a long time. Some others that were supposed to be growth stocks have lost most of their value (TTCF, for instance). What if you end up never picking a unicorn and instead you're just holding a portfolio of losers?
Response of the day 👍👍
Buying a good stock at that price where he bought Netflix at $3.3 is where luck comes in. At that time, u wouldn't know if it would be successful or go anywhere. U can't predict that a company that early will become big and make lots of money.
Awesome. Thank you for sharing this Joseph.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio
Great episode, your content keeps getting better and better.
Thanks for sharing. Great insight
Very good video! Thanks for sharing this article
Amazing article. Thanks
Love it and this is my new motto to do better and learn. Thank you Joseph
Netflix has been a winner from the beginning. I started buying mutual funds in 2022 when the market was down, knowing the ones I bought would be making money. I bought some Microsoft today because the market was down and I can't go back to the early days and buy stock in great companies. I know if you invest in quality companies then you will always come out ahead. Another great video.
Videos like this are the reason I come back to your channel Joseph!
Hey Joseph, Could you do a comparison between BJ Wholesale and Costco?
Yea, I could in the future.
In the meantime, I'll highlight one difference in business model.
BJ Wholesale leases their stores, they do not own. This means that while Costco pays on average 28 million to build a new warehouse, BJ Wholesale pays on average 4.5 million. This makes BJ Wholesale "capital light", which a lot of investors will see as an attractive quality. But I don't think it's as attractive as what Costco is doing. By Costco paying for their stores, they own them outright, and the land underneath. Costco has well over 20 billion worth of land in key areas that appreciates every year in value. On top of that Costco doesn't have to deal with leases going higher every year by rental contracts. Costco runs an unlevered business, so they're at no risk. And Costco has greater autonomy over their stores. Owning them outright as private land/stores gives them more rights in most cities.
I have preference for the more capex-heavy way Costco is building out their business than BJ Wholesale.
@@JosephCarlsonAfterHours Thanks for the highlight another big thing is I'm from Canada so I can't try one out to compare. All I really have is financial data that shows them being very similar but BJ selling at a much lower valuation. Great video btw I really liked the part about not falling into hate with a stock never heard that before.
This is the only Channel i need. Thank you.
Buying individual stocks and buying and selling at the right times is risky. Its really hard to do over a long peroid of time. Buy the indexes and keep for life. Sp100, sp500, QQQ, DIA, as examples.
Friday video let's gooooooo
I was holding a stock for 7 years , lost 90% of the value while the companies fundamentals were getting better and stronger each day. In one day the stock doubled. I have not sold a single stock , still holding on to it. I think the company has a lot of room to still grow.
Keep in mind that the stock has to 10x from 90% down for you to break even
@@hundehus it was down 90% down from when I had started buying but I kept buying more and more stocks as the price was going down. I own 0.02% of all the outstanding stocks. I am in a very sweet spot
@@pareshpatel2642 can i ask what stock it is?
Which stock?
Great article, Thanks for sharing.
I wouldn’t just hold a stock just because “the money is made in the waiting”, you hold a stock based on fundamentals, not the stock price going higher (unless you’re a trader like me)
This article compares holding a stock to holding a lottery ticket, but it's not the same at all. The author doesn't account for risk and how it changes with the valuation.
Meta is also an example of people falling into hate with a good business
Excellent!
This isn’t really relevant to this video, but I can’t find the one that you mentioned sitting on cash/dividends until you find an opportunity. Have you considered moving this portion of your portfolio to something like SGOV to get 5%+ yield while you wait? Only issue is with M1 you would have to wait at least one trading period between the transactions.
On M1 you don't have to wait. Entering a sell order gives you 100% of the sale amount in buying power. Your sell and buy order with execute in the same trading window.
Thanks for sharing
Thanks your video! 👍😎
Love it. Thank you. Sounds like coffee can investing.
Keep holding TTCF!
How do you know if it is a winning stock?
Easy to say, but there are many aspects missing. You also sometimes sell shares because they are clearly too expensive. I think Netflix was extremely overvalued in 2008/2009 and also not a no brainer. If you had exited here (rear view mirror) at 25 USD and then bought again at a fair price, you would have gotten much more out of it.
Well Said. It is simple most people make it complicated.
I sold Tesla in 2019 for 25% gain, thinking I was the goat
Fantastic video Joseph, the more videos I saw, the more books I read, I figured there are probably just two important things: 1) don't rush to buy 2) don't rush to sell. I hope I can stick to these two for the remainder of my life.
i dont think thats so true, my best decision was selling AMD and buying xilinx 1 for 1 on the AMD runup and that decision was done fast. When u find a good deal and you know what your doing dont wait. Rushing into something you dont know shouldnt be done... but if you know what your doing dont wait.
Thanks for sharing! A lot can be learned not just from failing ourselves, but from others’ mistakes as well.
Nice mentality!
But when dó we sell?
Extremely helpful msg for time like this. Try timely post thank you
Point 3 is soooo true. Selling winners too early definitely something I've experienced a bunch!
all companies are bad, not every stock that crushef will ever recover, it is right to sell and take a loss
Kind of reminds me of nike stock. it has been in a uptrend for many years... if you look from long term perspective the stock is in a uptrend but right now everything feels like blood and horror.
Great thought provoking video. 👍
Noted, so going all in with beyond meat :D
Such a good story! About my number 1 stock no less. :)
PATIENCE IS YOUR BEST FRIEND
Hope he was talking about Paypal inthe example jeje
Didn't someone recently post about this video on the Fundrise Reddit page?
I think patient investors following pandemic anomoly will get rewarded even more. The last few years has introduced millions of investors used to the extreme volatility with painful memories of bag holding since 20/21. This likely means for the next few years at least, there will likely be an increase in fear sellers during downturns due to recent events. This may mean that retail will be responsible for dropping stocks during a downturn hard - but this likely results in a much fiercer rebound - rewarding the truly patient investor more than ever before. Great video.
If you look at the overall market, retail is but a small percent when compared to institutional. We would have to ALL sell and still it would just be only few percents down.
Very interesting, thankyou
12 minutes of genius. This channel simply sets a very high bar for excellence.
Thanks for sharing ❤
Decent article 👍
If this is the case why didn't you double down on Disney? It's a great company
I’m not selling anything due to market moves or news. If I sell its because I’m making money, or bored of a trade, and would like to use the money elsewhere…currently holding 200 shares AMZN, and small positions in some dividend stocks, along with some 150+ day expiry options spreads. Looking pretty good right now.
Joseph,this was awesome.
My favorite finance channels besides this one:
Mondays: Earn your leisure market Mondays
Tuesdays: Wallstreet looks like us now network, Reppond Investments
Wednesday: Reppond investments
Also, melanin money podcast and peter Schiff show, Palisades gold, the RO Show wealthion, Joseph Carlson
For crypto: Ivan on tech, crypto banter, cryptosrus
Make my week complete!
this is an awesome share!
It's interesting watching good investing videos like these and then watch people IRL.
Makes you realize things like "The stock market journey" is a real thing and people often get wrapt up in the same kind of things. In a fairly similar order to.
Written in almost a Peter Lynch way, recommend his books if you like this way of looking at the market. Good video Joseph.
Great share
I’ve only made one mistake in size and have decided to hold the company forever as a lesson. I’m still not sure what that lesson is (other than the world is random and you get unlucky sometimes).
Great video thx.
Another Mandela quote, "kill the borra"
Borra is wht farmer
Hi Joseph Thank you for your very informative and educational content. Can you please consider video on Roblox fundamentals. This stock has huge potential in my opinion. It’s one of the biggest holding of METV etf.
Great one!!!!
Will Joseph ever invest in Tesla and Palantir?
He will invest in TSLA when it's market cap is like $2t probably
Sure!
Right now I would be closer to investing in Palantir than Tesla - only because it fits within the criteria I look for (it has a pretty reliable income stream through long term contracts, it's largely software based/data company, it's to my knowledge not as cyclical or capex heavy. I really like the fundamental developments of Palantir, moving to positive cash flow even above dilution, continual customer count increasing, and high retention rate. Speaks well for the company. But It currently is trading with a pretty high valuation. I should have jumped in when I was more interested in it around $9-10 per share.
I could also see myself investing in Tesla in the future. I would like to see their ecosystem come together a bit more to where I'm convinced it's approaching Apple status and they have decades of durable competitive advantage ahead of them. They're getting there, but I still remain unconvinced of their long term (10+ years) durable competitive advantage. In order to sustain above average returns for that long, you really have to have a significant moat. Tesla has a moat, but it's debatable how durable it is or if it was first movers advantage. margins are also going lower because cost of capital (financing) is so much higher right now for consumers than we have seen in the past decade.
Tesla is also wildly more expensive than I have ever paid for Apple. When I made my first big purchase of Apple it was at a 19 forward PE and 4.5% FCF yield, the next big buy was at a 24 fwd PE and 3.5% FCF yield. Tesla currently sits around a 30+ fwd PE and a 0.7% FCF yield.
I really like both companies. But looking over the numbers, I still like a few bets in my portfolio a bit more. I think, for example, S&P Global, is an incredible tech / data / ai company. It doesn't get much recognition, but I think that people who enjoy the business model of Palantir would really like the business model of S&P Global. It's dominant in market index data, commodity data, and credit data. It's extremely capital light, it has strong organic revenue growth, and it's priced closer to a 3.6% FCF yield which is not as demanding in my opinion.
@@JosephCarlsonAfterHours I appreciate the thoughtful response Joseph🙏 you’ve always been one of the more level-headed investors on YT
@@JosephCarlsonAfterHoursStellar take as usual - (91% of my portfolio is TSLA)
@@JosephCarlsonAfterHoursyou seriously need to do a video on palantir
wow cant believe you are talking about an article from my local newspaper (Singapore). Thanks!
To be fair: it’s easy to highlight a stock you succeeded with. But how often do you hold forever and the stock tanks and/or never recovers. Netflix might be a bad example. Not because of the stock price. But it’s very overvalued. Still not worth more than $100. So one does not need to have any regrets for selling at those prices.
Thank you ☺️
I find this a little silly. Sure, emotions are the hardest part. But it doesn't take a genius to see when a mature company is over/undervalued by 5x. Selling at a high point and buying at a low point only makes sense. Reasons why Buffets of the world can't do that are somewhat clear but for small fish like us it only seems logical.
Interesting take
I think investors are currently going through this with my only bet position
Hims&Hers is growing like crazy and will be profitable next year
I bought almost at the bottom in 2021/2022 so I'm still positive. But the stock is falling for months now. From over 10€ now under 6€. While the private investor is selling like the person pictured in the video, the institutional investors are buying heavily
As it's only a small bet I will hold it for years and just see what happens😊
It's trading under ipo price and since then grew more than 80% annualy
What about SPACs!
Does this change how you fell about selling DIS?
Great stuff ☝️👍👍👍
😀🙏 Thank you...
Great video
Hey Joseph (nice name), I was wondering what your thoughts are on American Express? Seems a little undervalued compared to MA or V.
Great video in a while 👏
Well I don’t think that story is a good example. The 400+ dollars on the Netflix stock price was due a 100 years event ( pandemic ) which gave Netflix an advantage, I don’t think it would be very smart to use this example as an strategy of how to handle your stocks. In addition to that, how do you know when to sell? What if Netflix has another 400 bucks upside potential because another event that happens 5 years from now ? These type of things are unpredictable, it can also go out of business so the concern on the downside is also valid.
Identifying when to sell, do you trim or sell a big chunk or all, is what you are going to put your proceeds in at least 50% better (Templeton suggestion), what are the tax implications of selling… selling is SO MUCH HARDER than buying
thanks, i printed that out. gonna put it on the wall next to my desk.
Buy the dip
Just bought Nikola
This is basically my strategy. I held APPL since 2008 and NFLX since 2012. I’ve had some losers but these winners overwhelm them.
How about a comment on Texas Roadhouse please
The last point is akin to saying “taking profits is bad”. Ridiculous.
just watched 42 seconds and wanna say it's a good one.
just read Coffee Can and read daily as a mantra Nick Sleep's letters, recommend to everyone
👍
Yup, Terry 's third rule remains the hardest