For me, 2021 marks 28 years of being an investment professional. That's a lot of years...
I experienced my first Melt Up back in late 1993. And I experienced my first "Melt Down" soon after in early 1994.
The way up in 1993 was euphoric. The market rose 123% that year. But the way down was devastating, with stocks falling around 30% in under three months.
That particular Melt Up was in Hong Kong. I was a broker back then, specializing in foreign stocks and bonds. And I decided at that moment that I never wanted to go through an up-and-down ride the same way again.
In 1996, my childhood friend Porter Stansberry and I started writing investment letters together. And I traveled to China for work for the first time that year – a quarter century ago.
I thought about all of this experience recently, after I had a long talk with a brilliant young man in his early 20s. Despite his young age, he's already teaching master's level classes at a university. I love talking with him... He will succeed at whatever he chooses – without a doubt.