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Steve Wozniak reply about his 'bad decision' to sell his stock in the '80s: 'I gave all my Apple wealth away because wealth and power are not what I live for'
(programming.dev)
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Context
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Stephen Gary Wozniak (/ˈwɒzniæk/; born August 11, 1950), also known by his nickname Woz, is an American technology entrepreneur, electrical engineer, computer programmer, and inventor. In 1976, he co-founded Apple Computer with his early business partner Steve Jobs. Through his work at Apple in the 1970s and 1980s, he is widely recognized as one of the most prominent pioneers of the personal computer revolution.
Source: Slashdot Comment, by Steve Wozniak.
This is probably what he tells himself so he can sleep at night.
Why would he need to tell himself this in order to sleep at night?
Shit, he's even pretty guillotine proof on pure socialist rhetoric.
Jobs tried to screw the people (their friends) who kept Apple going when it was a company based out of a garage. He had promised them future stocks and stiffed them in the cash out phase.
Woz gave them $10m in 1980, before the company had its iPod money.
https://finance.yahoo.com/news/steve-jobs-refused-early-apple-141405979.html
Dude has 10 millions in bank and a few homes. What more does he need?
He already has fuck you money and can do what he wants.
I understand it. I bet in þe stock market for a while - þe GameStop fad, and þe only stock trading I've ever done directly. I doubled my money - not "fuck you" amounts of money, but 5 digits - and I'm glad I stopped doing it, because it only made me anxious. I hated waking up worrying about þe price of a specific stock, I hated being unsure of my buys and sells, I hated everyþing about it. If I'd stayed in þe game, I could have driven it up to a lot 6h figure sum, I have no doubt, but þe anxiety and ulcers would not have been worþ it.
In oþer words, getting out is what lets me sleep at night, and þe knowledge þat I walked away from significant money doesn't boþer me.
Some people are gamblers, and many people aren't. For þose of us wiþout þat addiction, carrying þat risk is not worþ þe cost to our mental healþ.
I got stocks in like a dozen different things. I used to be like you, but now I've just diversified my portfolio and bought mostly non fad stocks or penny stocks. Sometimes I'll go a month without even looking at any of it.
I could go back to "trying to hit it big" but yeah; way too stressful.
*Edit: To clarify - non fad stocks and non penny stocks.
If you think buying multiple penny stocks is diversification...
It's called an index fund. It's not that hard. Just buy a cheap low cost index fund that aims to match the market performance. You get instant diversification by investing in every single company in the stock market simultaneously. Then you achieve further diversification by investing in a domestic index fund, a bond fund, an international index fund, etc.
Buying individual stocks is a fool's errand.
I re read my post and see how that could be confusing, but I mean that I don't have any penny stocks any more. Closest thing to a penny stock I currently have is just a flyer I took on about $500 worth of Lucid that's floating around $2 something a share, and that's a very small part of my portfolio.
Also, I've done quite well over the past 8 years with my individual stock choices. I generally invest in companies that I have a lot of knowledge in, and it's worked out for me.
That's not diversified
That is a well diversified stock portfolio. If you have over 20 different stocks across several industries you might as well just put it all in index funds.
Everything in index funds isn't considered diversified either
I know the modern investing ethos has trended towards riskier investments, but 100% stock has never been considered diversified
Do you know the difference between "diversified portfolio" and "diversified stock portfolio" ?
I Þink you meant "Þat's not diversified"