Painful day for the portfolio and as we …

Painful day for the portfolio and as we head into the close, it’s safe to say “the streak is over”, as in, our portfolio is not up on the day.  Indeed, with Cypress and Riverbed both down 3% on the day, there’s some red on the sheets today.   A few thoughts to ponder tonight —

1. Stocks and portfolios do not go straight up ever.

2. Do you actually get the “discipline trumps conviction” mindset?  Always do what your discipline dictates, even when you’re convinced you shouldn’t.

3. Are you in this for the next 10,000 days or the next ten days?  Because we might get lucky and see the market reward our brilliant stock-picking with huge new multiples and bubble prices for all of our stocks in the next two weeks.  But more likely, it will be a slow, hard, steady grind with lots of minor navigations, tweaks and profit-maximizing tactics along the way.  And as I’ll often remind you — I’m building and trading this portfolio to try to maximize our profits while minimizing our risks with a time horizon of 10,000 days. Not ten days.

Steady as she goes, Sulu.  Thanks for reading and I’ll see y’all manana.