What I love about this story was Randy’s ability to understand that in a bull market, you don’t want to own the laggards. You want to own the stuff that’s rising.
And that’s the lesson that all these millennials have embraced whole-heartedly over the past bull market. All of us old-timers that remember 2008, or even 1998, were scarred with the realization that the current darling-go-to stocks can go down just as fast as they went up. Millennials have no such nightmares. They only know Facebook, Google, Amazon and whatever crazy-over-priced-growth-stock-they-have-recently-discovered chugging higher. Dips were only buying opportunities to add to their position.