February 21st, 2020 1:40 PM by Eric Fang
Jeff Bezos, founder, chairman, CEO, and president of Amazon is the richest man in the world. Once in a meeting with Warren Buffett, he asked America’s most prolific investor, your investment thesis is so simple. You’re the second richest guy in the world, and it’s so simple. Why doesn’t everyone just copy you?”
Warren Buffett responded Jeff by saying, “Because nobody wants to get rich slow.” (The link is here: https://www.beingguru.com/2019/05/warren-buffett-nobody-wants-to-get-rich-slow/)I normally do not trade stocks too much. Maybe because I am busy, or because I am not smart enough. But I wanted to share with you one story about NVDA. I purchased xxx shares on 01/31 for $238. And then on 02/11 I sold for $270.13. And I think 13.5% gain for one week is good enough. But guess what? It went to around $310 yesterday. The problem was not my regret of not making the extra money. The problem was I had to watch the stock market everyday, and "hope" it went back to the level or lower I sold, to prove that I am smart. So actually you can see, that I am not that smart, and nobody is that smart.I think that's the reason I do not like too much about the individual tech stocks, I have to spend time to watch it all the time. Not like the bank stocks, it went up down only a few cents, and just keep going higher, slowly.