To be honest, yes, but for one thing. A while back (in my previous life) I bought too larger positions in gold stocks which I still hold and gold last 12 months has detracted rather than added. If my positions in gold were much smaller the negative effect would be smaller. I have no regrets on my gold stock selections, just the sizes are too large.
I know we differ on what we consider large positions, can you give some context. My small positions are 5% and my large positions are over 20% Gold stocks seem to be making a comeback. I hold FNV and got out of KL but it seems to be trending in the right direction. Any reason you held on to the gold stocks when they started to trend downward?
These days for me just over 1% is ample as max position portfolio size when buying, should it for example double, well I would leave it to grow but exiting only on a market stop or if it perhaps changed its business model, eg, began to announce profits would slide.
Are you a trader or an investor? I know some people who's strategy is to buy 1% positions and see what happens. If the stock goes to zero they are out 1% but if it ends up being a 10 bagger then they get to brag about it. Problem is they would be better off with SPY.
Both, it's a definition grey area, I buy more often than sell, but I have a line which crossed, I exit.
Trouble with that theory, holding all eggs in one basket, are you really prepared to risk 100% of your finances with an ETF company? Another is boredom, what a miserable life! Trading in part is about entertainment imo, getting paid to have fun.
Like owning a house, yes there is lots of capital tied up in one investment but you get to have fun in it, SPY is boring.