To the TQQQ Guy - can we get an update on how 24' was?
Hey man - would love to get an update on how 2024 was. 5x since Dec22 trough...were you 100% long? Or still had that strategy of buying puts against the long? Or shorting SQQQ? Where's your networth vs COVID peak vs Dec 22 trough? Now that you've been through trough / peak --> peak / trough / peak again now, any interesting lessons or insights to share? Mistakes / things you would've done differently?
Kicking myself because I owned QQQ instead of TQQQ, but not complaining
I’m not THE TQQQ guy, just a TQQQ guy. I gotta say, it’s been a crazy ride. I bought in during the high of 2021, lost 85%, kept putting money in and now I am 3x my cost basis.
Gonna keep riding with it.
It was me. I posted anonymously, so I guess only way to prove it is my screenshot below? I feel pretty great and still see upside ahead until some particular things in market internals change and the contras I have become bullish. Of course, I've taken some profits bought some things, etc but I still have a core position I feel extremely confident about. I never had a strategy of "buying puts against the long" or anything. I don't really think that's a good hedging strat. Only strat was occasionally and selectively selling OTM covered calls when things looked a bit stretched and this juiced returns a bit.
I didn't really have peak to trough to peak or anything like that. My post was a few months before the bottom and considering the context within the cyclical and secular bull I don't think it gets better than that with regards to timing. I don't care about nailing the exact bottom, although people who can't stomach volatility might, I just knew where we were going based on my analysis. People can laugh and say my reasoning was wrong or that I was just gambling or whatever but I really don't care when every single 7-figure salary strategist on the street (yes literally every single one) was extremely bearish at the time and didn't flip their tune until much later.
Ultimately, it all comes down to the $$ you take home at the end of the day. Yes, vol matters for returns, but I'm not a fund and the only risk parameters I have to answer to are myself. I wouldn't have done anything differently as I was as max long as I possibly could be (barely had cash left for day to day stuff). The fun times won't last forever and eventually the secular bear will come and I WILL be ready to capitalize (I said this in the comments of my original post as well because for some reason everyone misconstrued me as some shitcoin slinger or "perma bull" where if anything I am the opposite).
All the people who disagreed and were bearish at the bottom will become max bullish towards the top. Human and market behavior doesn't change. If only there were still discretionary macro funds around I could join, but here I am in a world of pods and dying SMs *sigh*
No - you're not the TQQQ guy I'm talking about. It's a pod analyst that put his entire NW into TQQQ for years and was worth something like $40-50m in the COVID peak. If you really want to dig, he kind of documented the entire journey on WSO and spoke about it extensively.
His title is "Research Analyst in HF - Other"
Interesting, he never commented on my post so thinking he must be inactive by now. That makes more sense now with you talking about "trough / peak --> peak / trough / peak" given he was pre-covid
Look for research analyst in HF in this thread:
https://www.wallstreetoasis.com/forum/investing/who-manages-your-money
He commented on this thread as an update 2 years ago, but this post was from the Dec22 TQQQ trough so he could be sitting on pretty massive gains right now
https://www.wallstreetoasis.com/forum/hedge-fund/biggest-l-of-22-the-tq…
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