Two years and counting!
Yesterday was my two-year blogging anniversary. Perhaps its time to look back and see if blogging added any value to my investing, and what, if anything, that might be. First and foremost, the blog provides a (very public) record of my investment theses and decisions. That alone is helpful in as much as I can go back and review my thoughts at the time I made each investment decision without any hindsight bias. But of course I could have simply kept a (very private) diary instead. So, what benefit is the ‘public’ aspect? It acts as a bit of a brake; Each time I reach for the mouse to log into my brokerage account to buy or sell a security I think about what I will write in my blog. You might think this is putting the cart before the horse; I should be thinking about the investment thesis not what I’ll write in my blog, but there are moments when my emotional self is urging me on to ‘do something’ and that brake is really important. I admit it. Yep, I too feel the pressure to ‘do something’, especially when I have a large cash balance burning a hole in my pocket and the market is skyrocketing. I need to be reminded to do nothing unless it is consistent with a rational investment strategy, and the simple fact of having to document any foolishness I might commit is often deterrent enough to stop me from doing something I’ll later regret. Call it the embarassment factor. So, from that perspective, there really is something useful in this blogging thing!
For your part, I hope you find something at least amusing in the few lines I write.
Remember, don’t take my musings as recommendations to buy or sell any securities I mention; do your own due diligence!