Thread

1. BennyBallTC · 1789734078 · focus · HN ↗

   Many people do not know this but he still holds the stock that he first bought as a 13y old. It is now worth 8+ figures!

   1. ricardobayes · 1789734892 · focus · HN ↗

      Maybe someone can enlighten me, but what's the point of "never selling"? Stocks are not a collectible that you can just look at for fun. Their whole point is to sell for profit, at some time. Maybe it's just me but if you "never cash out", that seems a waste of capital. Or perhaps this is a marketing stunt wealthy people sometimes to? Akin to "I live in a small house".

      1. metabro · 1789740152 · focus · HN ↗

         wealth needs to be kept somewhere. you can either keep it in cash where it inflates away. or in bonds that also inflates away but slower or stocks that is a hedge against inflation.

         so the point is protecting your wealth against inflation and continuing the compounding over long stretches of time.

         you can liquidate as required or even borrow against it like the very rich do.

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