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There's a constant grave dancing on Twitter, glad that we don't have that here.

People who grave dance on the mistakes of others demonstrate a couple of things and I don't think one of them is good.

  • They are judging the past with the eyes of the present: Yes, many growth stocks are significantly down and they were obviously overpriced but it's much easier to say this in hindsight. This leads people to believe that stock down = shitco, which in some cases is true but in others isn't.
  • They are spending their time in the wrong things: what you get out of grave dancing is absolutely nothing. I have never seen an investor that learns to invest better by grave dancing. Probably a reasonable investor would go back, check what he/she did wrong, improve and continue his/her path.
  • They are trying to portray that they have not made mistakes: maybe what they didn't do is share what they were doing at the time. Everyone makes mistakes (Druckenmiller lost a couple billion dollars during the dotcom bubble and it made him improve) but the important thing is what you learn from them and not the mistake per se.

Of course with the S&P 500 down 20% and the Nasdaq down more than 30%, I highly doubt these people don't hold something in their portfolio that is 50% off-highs (they won't tell you though).

Of course, some people who are receiving the grave dancing were grave dancing on others a while back, so these people might deserve it. Either way, I have never understood why some people think that grave dancing makes them look more intelligent, it's probably the opposite.

Leandro's avatar
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