by Paul Mampilly
The Sovereign Investor
I was up to my eyeballs in stocks. “If I’m wrong, we’re done,” I told my wife.
It was February 2009. As the markets were crashing in 2008, I had made an ALL-IN bet on the U.S. stock market going up. Every dollar I had was in the market. And then, I borrowed money and bought even more stocks.
In hindsight, I bought too early. By February 2009, every single stock that I owned was down big. Another month or two, and I would have had to sell and take huge losses. And I’d be ruined.
However, as crazy as it sounds … I wasn’t that worried. That’s because I could tell that the tide was going to turn and soon.