I think the best route to take is educated risk. In other words, go for the risky stuff, but make sure your well versed on the subject. It would be like somebody who had a good habit of studying who decides to take Calculus. More than likely, the person can handle it.
I'm a "conservative risk-taker", if that makes any sense. I'm happy investing in typically low-yielding but safe assets, yet I'm also willing to expose myself for a limited amount of time in investments that might give me a big payoff. I say "limited amount of time" because I always make sure I'm able to close a position if what I expect to happen doesn't happen. These days, the idea of risking a lot to make a lot doesn't even cross my radar. I'll leave that to the City boys who have the luxury of trading with somebody else's money!!
Interesting take on the subject. I'm a buy & hold investor so even for the higher risk stuff I tend to go with companies that have long term potential... and I'm willing to hold these positions for years and years waiting to see what happens. So it's interesting to hear about people making time a big factor. That being said, all my riskier investments are following a very simple rule when it comes to how much $ I put in any one investment.
I consider my self as both since I occasionally invest in new companies which have low value stocks and see if they will rise in the future. However, I invest mostly in stocks of trusted companies which pay dividends.
You are right. I am nearing retirement (a bit over 5 years from now) and I'd honestly say that I am conservative when it comes to investment. In fact, I have no intention of selling the shares of stocks that I am holding now and not have the intention of buying new stocks either. It's just status quo for me although if ever my present stocks would hit it big, I would be elated but not excited. Maybe this coming year would usher a new era for the stocks according to my nephew so maybe, just maybe I would buy just a little.
I have a bunch of long term stock I have been holding on to for ages now and will continue to do so for the foreseeable future, however, I also have a bit on the side I use for making riskier "bets", so I suppose you can say I'm a bit of both. Both strategies have their risks and rewards as well.
There may be a time when risky investments are wise... in my own personal situation, that time is not now. There have been risks in the past that blew up so badly to the tune of tens of thousands, that it tends to make a person a little gun-shy. I used to have nightmares (don't judge! hehe) of flushing piles of hundred dollar bills down the toilet after that) and I'm not ready to go there again. All that to say that at this point, I'm very conservative. Investments are primarily gold and real estate. If any "play money" comes along that I feel a risk wouldn't devastate me, I may take it, but right now, I can't see it.
Well those are the risks you take. Sometimes it works, sometimes it doesn't, but in the end as long as you learn from your mistakes (it looks like you did!) then it's all good.
You made me smile, crimsonghost... yes, that's a true statement if ever I heard one. I suppose the wise thing would have been to risk a little (okay, a LOT) less, but the ventures came so highly recommended by an elderly acquaintance who was so sure these things would take off... and his track record was stellar. Well, until then. I do my own research now, but too little, too late. If it's any consolation (it's not, though) he lost a lot more... including one of those fabulous California villas that he used to call home.
