Believe it or not, the question I'm asked the most is: "What's your cost basis?" To me, it's the wrong question. My cost basis changes every time I scale in or out to capture the next leg of a move. If I'm still in a stock, it's because I believe there's meaningful upside ahead, whether I'm already up 60% or down 20%. Take $NBIS as an example: I've been holding it since around $60, but I've bought and sold it so many times along the way that my current cost basis is much higher. Does that matter? Not really. I've already made roughly $400/share+ of gains on what is now a $220 stock. The only question that matters is whether I think the next move is still worth owning. Focus on future expected returns, not where someone first bought.
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