I started investing in February mainly to learn how investing in stocks works and feels. Over the last few months I’ve had some lucky wins and some painful losses. Looking back, most of my mistakes came from day trading, panic selling and FOMO, textbook beginner stuff. It made me realize I’m absolutely not a trader.
Yesterday I bought some SpaceX, and for the first time I realized I genuinely don’t care what the stock does next week or next year. I believe in the company and can see myself holding it for 15+ years. I’m also heavily emotionally attached to it.
That made me wonder: maybe the biggest factor in long-term investing isn’t finding the perfect stock, but finding companies you are convinced by and can identify with enough so that you hold through the inevitable ups and downs?
But how do you distinguish between genuine conviction and becoming emotionally attached to a company?