My Journey to the First 100K in Stocks: What I Learned from My Mistakes
Reaching my first 100K in the stock market wasn’t a straight path. It was a journey of trial and error, guided by curiosity, humbled by losses, and eventually anchored in timeless wisdom from Warren Buffett and Charlie Munger.
📊 This Is the History
This chart shows the slow and steady journey toward my first 100K in the stock market.
An overview of the key stages—from blind buying, to trial and error, to value investing rooted in Buffett and Munger’s principles.
Three Stages of My Investing Jounery
1. Buy and Hold—Blindly
I started by simply buying stocks and holding them, following a guru on Seeking Alpha called buyandhold2012. I bought many of the stocks he recommended, allocating about 5% to each.
At that time, I was still learning, so I allowed myself to try different strategies. I believed it’s better to experiment when the portfolio is still small.
2. Learning and Trying
I began studying accounting and valuation. I shifted partially to investing in high-growth companies and tried concentrating my holdings—about 12 positions in total.
I followed ideas from Saul’s Investment Discussions and subscribed to services like Seeking Alpha and The Motley Fool. I bought stocks they suggested.
But I failed. My portfolio dropped 52% in one year.
Honestly, I didn’t even know exactly how much I lost back then—because I avoided looking at my account.
And I was so used to buying and holding that I didn’t know how to sell.
But i gained a valuable lesson, which i wouldn’t forget.
3. Buffett and Munger Value Investing
About 1.5 years later, I reopened my account—and to my surprise, it had grown by 62%. That year turned out to be my best performance.
Why? Because I had done nothing but wait with patience. I had held on to quality businesses. It was the moment I truly understood the wisdom of Buffett and Munger.
“Our favorite holding period is forever.”— Warren Buffett
The Mistakes I Made
- Greed — I wanted fast returns and chased hot stocks.
- Buying Companies I Didn’t Understand — I ignored the fundamentals.
- Listening to Others blindly — I relied too much on tips and subscriptions.
- Not humble- I studied valuation guru Dr. Damodaran’s valuation class and became overconfident.
What I Learned from My Mistakes
1. Don’t Compare
Everyone is on a different path. Comparing your portfolio with others or SPY500 only leads to impatience and poor decisions.
It will trigger negative emotions, which is bad for your investing and your life.
2. Don’t Pursue Money—Pursue Meaning
When I shifted my focus from money to inner peace, self-improvement, and better thinking, I became patient. And I have gained better performance unexpectedly.
“The big money is not in the buying or the selling, but in the waiting.” — Charlie Munger
Enjoying other hobbies brings joy and inner peace. It helps me stay immune to the market’s ups and downs.
Munger also teaches multidisciplinary thinking. He encourge us to learn psychology, economics, biology, engineering, and more to form a better think model.
Thinking better is key to investing and to living a good life.
Instead of pursuing money, I choose to pursue becoming a better thinker.
3. Buy Great Companies at a Reasonable Price, and Hold
I now focus on companies with durable competitive advantages—often #1 in their market.
I tried to buy them at a low price when there are in trouble. And I used dollar average down to buy more shares.
Instead of fearing uncertainty, I learned to welcome it and take advantage of market irrationality.
4. Maintain Cash—in a Bull Market
I always keep a portion in cash or cash-like assets in bull market. That way, I don’t panic during a crash—I see it as a chance to buy more of what I believe in.
And in a bear market, I kept buying shares of great company at the reasonalble price until i used all of my cash.
If i used all of my cash, i just avoid looking at my account, wait while persuiting self improvement.
“Be fearful when others are greedy and greedy when others are fearful.”
5. Concentrate with Conviction
Today, my top 3 holdings make up 60% of my portfolio. Along with ~25% in cash or cash-like assets, my portfolio reflects quality over quantity. I only invest heavyly in what I understand deeply and am willing to hold through volatility.
“The wise ones bet heavily when the world offers them that opportunity… and the rest of the time, they don’t. It’s just that simple.” — Charlie Munger
Final Thoughts
Getting to 100K wasn’t about beating the market—it was about beating my own emotions.
Mistakes were my best teacher, and Buffett and Munger became my guides. This journey has reshaped not just my investing, but how I think and live my life.
Now, I no longer pursue performance.
Instead, I focus on meaningful things: reading, writing, YouTubing, and becoming a better version of myself—day by day.