Boats And Fleet Management

Everyone has their own personality and preferences. Some like to feel the exhilarating g-force from the sharp acceleration of a jet ski and others like to slowly cruise around like on a pontoon, relaxing, perhaps even barbecuing or fishing along the way.

My personality outside of trading (for the most part), has been one of a thrill seeker. I love the reward of taking on risk. Early in my sailing (trading) career, I took the same approach, seeking out high-flying boats and ignoring the diversity of having a fleet. I put everything into one boat that sunk. As you can guess, this was an expensive approach and it was absolutely no fun either!

Today, I have about 73 boats, in several Watch Lists, in my fleetClick here to read about boat selection from July 22, 2019 (Interestingly we were in a High Tide at the time of that post with the S&P sitting near an all-time high (at the time) of 2976.

One of the important questions you should ask yourself is: how much time can I dedicate to managing my fleet? I can tell you 73 boats is way more than I can manage so I've broken down the fleet into two groups:
  1. A group of 9 boats that I watch very carefully, and
  2. A group of 64 boats that I spend very little time on. These boats are potential replacements if I decide to drop a boat out of my top 9.
I've measured my enjoyment related to the time I spend on sailing. I've realized time-sucking paralysis by analysis, I've listened to the "experts" talk about the markets all day long, I've been glued watching the tickers stream tick-by-tick and I've also spent almost no time at all managing my fleet. For me, I have the most enjoyment and best results spending no more than a few hours each week managing my fleet.

On a weekly basis, I study the seas and weather forecast and I chart my plans in my boat log. Then, from that plan, I set alerts on my top boats to notify me if it is ready to sail or to bring back to port. A couple of times per day, I look at the direction the markets and I glance at the streaming quotes for my top boats. That's about it. I trust my research and I always try to keep my emotions out of my decisions. If I spend too much time in the "market" I tend to get anxious and when I get anxious I set sail or stop sailing too soon.

If I trust my research, the work is done, wake me up when there is something to do!

Fair winds and following seas!

Trading Tide Levels (at the time of the post):
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This is for informational purposes only and the information provided does not encompass all possible or probable outcomes and nothing posted here is an indication of future results. Nothing in this blog is a guarantee or promise of future investment returns and investing in stocks or bonds carries risks including losing your entire investment. I do not recommend, advocate or endorse any third-party links, resources or advertisements of any kind. Any investment decisions are recommended to be in conjunction with a Certified Financial Planner, a comprehensive and personal financial plan and all other components that make up your own financial situation.


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