30Dec12:32 pmEST

Another Year in the Books; Be Proud

While those chock full of insecurities, hubris, and cheap braggadocio will constantly try to remind you that they are always winning big, the reality is that the seasoned speculator understands and respects just how challenging it can be to merely survive year-in, year-out in this business. Believe me when I tell you that I have some seem of the most misplaced arrogance meet some of the most humble fates imaginable in the speculation business, be it stocks, poker, or the like (Just think, for example, of some of the previous "stars" of the bull market who may have gotten arrested by the SEC). 

And so to make it to the finish line of any given year, especially 2022, in the stock market is surely something of which you should be immensely proud. Looking out to 2023, I expect an even more challenging year with volatility likely to make a big comeback just when it looks like many have written it off as obsolete. 

One thing is for sure, though: In this business you should never trivialize surviving another year. It is a privilege not earned by nearly as many as you would think. And you should be actively distancing yourself from and avoiding anyone who tries to belittle your survival by them touting their alleged success. 

I wish you all a happy, healthy, and safe New Year celebration. 

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