You know, most good investors, especially the trading type, they either wince or laugh hysterically at you when you mention the words "double down". Well I've been doing that for quite some time now, and today is the day that I'm back to that psychological barrier: Even.
That's right, I'm back in the black. That might not sound like a feat to you but let me insist, It Is. I was buying all kinds of ridiculous trash in '08: Citi at 26, Media stocks that went to 0, Double long financials (UYG), Bank of America at 14.
I lost my shirt, shoes, and pants on all of those at one point. What did I do? I bought more. Just like a broken clock is right twice a day, even Bill Miller is right twice a decade.
It's not about how often you win, but about how much you win when you do.
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