Dec
22

Wednesday Notes – “Money is Time”

By Don Miller

There’s an old saying that “Time is Money”.

I prefer to say that “Money is Time”.

Today’s video follows up on a slew of emails in response to Monday’s post to reinforce the complete immateriality of short-term results, and why I decided to publicly share the more relevant and longer-term 800% total fund return figure.

On the flip side, of all the stats that I’ve ever kept, the recent 5.26% maximum draw reference in the post may perhaps be among the most relevant … especially in light of recent discussions re: Livermore, Karas, et al. 

And such will be one of the cornerstone concepts I discuss during next Wednesday’s Webinar for Linda Raschke’s team at LBRGroup.com.

Comments

  1. mbagearhead.blogspot.com says:

    Fair enough Don but as we emailed, we agree to disagree. How you got there is equally as important as the end result of 800%. Looking at results daily or weekly does not hurt a thing, imho. They just have to be taken in context. Happy Holidays to you and yours!

    • Don Miller says:

      Same to you and your family.

      In terms of how to get there, I think there’s about 800+ blog narratives to sift through … which should help far more than sterile numbers.

      I’ve gotten there primarily by the grace of God of course.

      Merry Christmas :-)

  2. EC7 says:

    Bravo, Bravo!!!…. My nomination for possible best post of the year so far.

    I completely agree with what you say, one day should not make or break anything. (including a MAy 6th instance, if properly managed).

    I read another trader put it like this. : when you drive, you dont look at the pavement right in front of your bumper while going down the road, in trading you shouldnt either”.

    Best to you Don, enjoy your family, freinds everything,,You have earned it again.

    Ec

  3. Charles from Ohio says:

    How time is managed incrementally is paramount to perpetual success.
    Although the time may not be managed perfectly all of the time, an element of forgiveness of those errors are granted by the glory of the end result and therefore don’t seem to matter.

    I was not trying to make this mean two different things when I started writing this, but somehow it ended up that way.

    Merry Christmas

  4. Anthony says:

    I am a newish trader and the more I learn and reread your blog the more pertinent the things you say become.
    On the subject of ‘time’ I produced a spreadsheet budget and with compounding it is astounding how quickly capital increases.
    Like a top sportsman when you are in the groove things are so simple and obvious that you don’t even need to think about them, but when you are struggling nothing seems to go right.
    Getting to the top is a lot easier than staying there and as someone who has done both and continues to disseminate your invaluable experience I thank you and wish you a Merry Xmas from Kas Turkey near Myra the birthplace of St. Nicholas.