Ay Ay Ay… I rocked my head in my hands.

It was a main course of gut punch accompanied with a side serving of humiliation and wounded pride. Nausea was my dessert.

I had just – overnight – lost about $25,000 on a publicly-traded company called YBM Magnex.

Not paper money, not Monopoly money… real money (or as real as the Canadian dollar gets).

I like money.

We should all like money to some degree… I know, I know, we could debate that degree until the cows come home… but I won’t judge you if you don’t judge me.

YBM was a not-inconsequential part of my family’s net worth when this happened about 30 years ago. It was a great company with wonderful financials…

WAS! More on this later.

I “dig” financial numbers and have a pretty decent understanding of what makes a company worthwhile when I’m looking to buy a chunk. YBM was definitely worthwhile.

This investing stuff might not mean a whole lot in your world, but whether you’re young or not-so-young (like me), let’s try to get you engaged for your future.

……….

Ah the hubris of my youth.

I told everyone far and wide in my 20’s and early 30’s that I’d retire by 35 and live comfortably on the millions I had invested and flourished upon.

In my heart I knew the map with directions to take me to the Land of Milk and Honey.

Turns out it was a semi-fictional map that led me to the Land O’ Skim Milk and Artificial Sweeteners!

I’m not complaining, just noting the true course of my investing ventures and adventures.

The investments I’ve made over the years have by-and-large been good ones, but honestly, the mega-blockbusters (the pros call them 10-baggers) have passed me by… nope, in re-thinking this, I’ve passed them by.

My biggest problem as I look back now is not the quality of my research and purchases, it was the quality of my “gut-strength”.

BUY LOW, SELL HIGH… you and I have both heard this maxim a hundred, maybe a thousand times. It’s kinda like saying, BE BORN YOUNG, DIE OLD. Easy to say, harder to do, right?…

You only really have a choice on one end of either of these equations with certainty. LOW and YOUNG both begin at 0… HIGH and OLD have no upside limit (OK… maybe OLD does have a finite point, but remember, bibilical Noah lived to 950).

I’ve been quite good at buying LOW… then too often sold high… but not high enough.

When my winners rose 15 or 20%, I started to feel the hair on the back of my neck creeping upwards … way too often I’ve sold for a modest profit rather than holding on to quality companies and letting them do what they do best… keep growing and adding big profits for themselves… and by osmosis… to me!

Well-run companies with great management have a way of thinking through the tough stuff and finding ways to continue to prosper regardless of the toughness of any economy, year after year.

My advice to myself AND to YOU?

If you should find yourself fortunate enough to own a bit of companies like Apple, Johnson & Johnson, Disney, Amazon, or McDonald’s, hold onto them tightly unless something dramatic occurs that will wound them irreparably… otherwise cling to them as they find a way to renew and carry on making you money hand over fist. (Full disclosure: I own Apple, Disney and Amazon, but sold both J&J and McDonald’s much too early)

It’s a test of our self-belief and “gut-strength”.

GUT strength AND balls…

If I could start all over with a small sum of money that I wanted to grow to a large sum of money, I would show more patience and resolve when the tides of a slowing economy or a rising share price have caused me to sell too soon.

Trust my research would become my mantra.

I’m not Bill Gates, I’m not Elon Musk, I’m not Catherine Wood, I’m not Warren Buffett… but as Larry Green I resolve to hold on to the investment rope when it gets a bit slippery – to trust my choices and decisions in the investing world.

Right… Back to YBM Magnex… remember them?… here’s the rest of the story.

YBM was a solid-appearing company with wonderful assets and sales and profits in producing and selling rare earth magnets to the technology industry. But there were worrisome whispers…

After a strong report from an internationally-renowned auditing firm that gave a green light to the quality of the company’s reporting standards, I stayed on board despite the various reports of fraud and money laundering.

WRONG! Early one morning, the FBI burst through the front doors of the company and uncovered proof of Russian Mafia money-laundering. Poof! My investment dollars disappeared like feathers in a hurricane.

My research had been fine, but my trust in “reputable” auditing companies took a big hit… expensive lesson learned.

Markets are close to highs right now. Riding a market tide-swell is a rush.

They might rise more, or… they might tumble mightily. I have no idea which will be the next stage. My crystal ball has always been murky.

But I will do my best to stay strong and ride whatever waves come my way. We survived (sort of) a period of Trump, and I trust that we can get through the next wave of worry, whatever it might be.

I know the map and the directions, now comes the trusting part.

PS. Despite my braggadocio, I did NOT retire at 35. I’ll never truly retire, but I DID leave my long-term medical lab career behind on my 57th Birthday!

PPS. Just one more thing… I’ve been a fan-boy of Australian acoustic guitarist Tommy Emmanuel for a few years (I have tickets to see him in-person once the pandemic undoes the handcuffs!). Stay Close To Me, the instrumental guitar piece I recorded (below) was written by Emmanuel… I use him as a source of incentive and motivation to work away at my guitar skills. If I can capture 25% of his skills, I will possess a million stars in my eyes (and fingertips)!