Investing is a fascinating industry. I've always been enthralled by the idea of investing. I famously (in my family, anyway) said to my friends/family that when I grew up, I wanted to own a hedge fund.
It's been nearly 20 years since I started talking about stuff like that and today, my entire life is centered around Finance. Surprise surprise.
I've studied a lot of different investors over the years. My goal has always been to learn as much as I can and also study differing perspectives.
One perspective has always shone through where others did not: do nothing.
How to Get Rich by Doing Absolutely Nothing
I've done a lot of investing in my years in this industry. I've tried a lot of different investments, I've tasted different methods of trading. I've also failed a lot.
One thing that has worked well for me and is a shining reoccurrence in many of the top investors of the world is doing nothing.
That is, you spend a whole lot of time up front learning about something. That might be a public company (stock). That might be an asset class. That might be something like Bitcoin.
You spend a whole lot of time learning about it. You spend countless hours consumed in it. Obsessed. Learning as much about it as humanely possible on a daily basis for months and even years on end.
Then, you begin to buy. You buy slowly. You dollar cost average.
Time goes on, your stake in this investment continues to grow as does your knowledge of it. You may even automate your buying. If you are a great investor, you will have the majority of the work on autopilot. Your day-to-day management of your investment will be near-zero if anything at all.
You may do something once or twice a year. In fact, you will barely even look at your portfolio.
Instead, you continue to learn but also continue to accumulate. You're not looking at the trends, you're not reading the charts. You're not selling the peaks and trying to buy the valleys.
Doing Nothing is Hard, But is It Rewarding?
Doing nothing is a difficult ask. We all love to micromanage and change our positions. We hear some talking head on the news or Twitter say something and then we immediately start to reconsider our position.
Instead, ask yourself this: can I truly understand this asset at a fundamental level? When I hear something about this asset, can I take it into account with all my previous understandings? Instead of rushing to action, can I ruminate on a decision? If a decision comes to sell the asset, what has changed? Is it now overvalued? Is it too large in my portfolio? What is really driving the decision to sell? Is it something out of logic or an emotional, rash decision?
As you can see, doing nothing is actually doing a lot. You are constantly thinking and re-evaluating. Actions are few, but thoughts are many.
For me, I've had several moments. Several big assets that I decided were my "do nothing" assets.
Tesla was one way back in the day.
Bitcoin is the most recent example. I've been "doing nothing" in BTC for almost 8 years now.
Doing nothing in Bitcoin has made me quite wealthy. It seems that this trend will continue as I believe BTC to still be fundamentally undervalued for what it brings to the world.
As I continue to do nothing with my Bitcoin position, I am reading, watching and even building technology in the industry / adjacent industry. This deepens my knowledge of my largest portfolio holding but it does not change my action. My action is simple:
- Dollar Cost Average for more BTC
- HODL
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