Interesting to see the few naysayers against PyrUp, keep trying to support "averaging down." (If you don't always PyrUp it means you condone averaging down in your investing practices). Here's something years ago I posted to cliff and others:
"Well, (Cliff) if you personally had used Pyramid Up investing you would not have had those horrible losses in your recent averaging down investing in Master Limited Partnerships last year. And for those investors who bought your favorite MLP, Kinder Morgans KMI,during the last year plus, PyrUp would have saved them a bundle of money, as it went from $44/share to about $12 a share.
Well, surely then you could also take it up with poster Capecod, who uses my mantra. He doesn't average-down, and he strongly suggests others don't either. Further, he always buys in buckets.
--I will add FI CEFs when stuff has bottomed and is starting up. Regards, Dick
--Phrog, you're a good guy. Don't fall into the feelgood "unrealized loss isn't a loss" nonsense. It's killed even more nice young traders than averaging down!
-- Capecod, in his own words: 1/8/2013: Dollar cost averaging is the advice provided to retail investors by institutional traders whose First Iron Law of Survival is: NEVER ADD TO LOSERS.
Post #3151468 With global swap spreads blowing out a bit, I'm not buying anything back until it is going up. More fine young traders died averaging down than ......(pick your own rude close!).
Post #3689344 ...Agree....too many friends suffering with MLPs to be humorous, but these need to stop going down first, bounce then retest lows, and finally start up in earnest before I'll play (if then).