I Am Losing Money | Resource Heads Ep. 47

This is a very long rant on what mistakes I made in 2022, and how I will try to correct them and do better in 2023. It’s a message to my future self and is not worth watching for anybody but myself. Yet, I am uploading it because I know nobody will listen to this warning and YouTube will put ads on the video, which will earn me a few dollars.

More specifically, I had to sell some of the (too many) stocks that I own in December 2022, because my portfolio was not fitting my knowledge and experience and was overexposed to risk, without me having any reasonable execution strategy to profit from it. I had employed the buy & hope strategy, and that resulted in me losing nearly half of my money.

In this long rant, I explain (to my future self) more in-depth what mistakes I made, why I made them, and how I will try to avoid them and maybe even profit from them in 2023 and beyond.

The 10 Main Lessons I Learned in 2023:

1. I am dumber than I thought. I shouldn’t have trusted myself, I should’ve trusted the numbers.

2. Avoid overpromoted stocks and companies that use aggressive marketing slogans to lure in capital.

3. Don’t think about the potential return. Think about the risk you’re taking.

4. Don’t meet management. They will lie to you, and you will believe them.

5. Employ the “unanswered questions” entry & exit strategy.

6. Don’t wait for influencers to tell you what to buy. Develop a system and test it in battle.

7. Macroeconomics & geopoolitics matter.

8. Sentiment matters more.

9. Geology matters most.

10. This sector is not easy money. It’s one of the hardest sectors to make money in.

Timestamps:
00:00 Important warning
00:10 Intro
05:35 Don't trust yourself
17:05 Avoid over-promoted stocks
26:20 It's about risk-adjusted reward
35:05 Don't talk to management
45:35 Exiting strategies
55:00 Don't trust talking heads
01:05:50 Macro matters
01:08:00 Sentiment matters more
01:10:45 Geology matters most
01:15:50 This is not easy money

Important warning:

Antonio Atanasov is not an investment advisor. Antonio Atanasov might own shares of companies mentioned in this publication. Companies mentioned in this video might be paying customers of Resource Talks. Always assume the speakers biased. More specifically, Storm Exploration is a paying customer of resource talks.

The information provided in this publication – and all other publications by Resource Talks – is impersonal in nature and meant for general information purposes only. It is also worth what you paid for it. If you’re not paying for the product, you are the product. Expect seeing advertisements – which will be verbally disclosed – in this video. Before taking any action on any investment, it is imperative that you consult with multiple licensed, experienced, and qualified investment advisors. Get numerous opinions before taking your own decision in the end. The minimum risk on any investment mentioned in this publication is 100% loss of capital.

Shortly: you will lose all of your money and possibly most of your brain cells if you listen to talking heads on the internet. Especially if they have orange hair and no experience (me).

[huxley]

Antonio, this is one of my favourite channels! I think you’re going to be rewarded for your patience and persistence and your wife will be happy! Keep going mate 😊

[lanceteachworth]

Thanks, Antonio for your honest reflection on your 2022 portfolio journey. Appreciate how you funneled it down to specific lessons and corrective actions moving forward. Wisdom being spoken on your channel. You are helping people. As you apply these principles please also tell us about your inevitable future successes. Best regards in the new year.

[Jaspervdwa]

Hey Antonio, thank you. Very genuine. Your candour is exactly why I like to follow your journey and what you learn.

[eman]

Bro… this was RAW.
I saw & heard myself through your thoughts & feelings MANY times. Very bold and courageous of you.

[roblewis]

You will rebound. Please keep up your good work here. Much appreciation for your channel. ❤

[tatepinto]

You crack me up. Self deprecating humor is the only way to get through life.

[liamomahony]

Super channel Antonio, I listen to all your interviews. I think you ask brilliant and insightful questions and your guests are very interesting. Please keep up the great work for all of us who are learning. Best of luck from Ireland for 2023.

[lancobear]

The only thing worse than a vegan is Antonio's portfolio pre Rick Rule's advice. 🤣 All jokes aside, I appreciate you being truthful with your listeners and yourself. Your channel has brought many of us alot of great information and the content has gotten better as you've improved as an interviewer. Hopefully this year works out much better for all of us.

[dhunt]

I have been following your journey for a long time Antonio. Thank you for being honest and true to yourself. We are all learning on this journey and I have learnt a lot from your videos and the questions you have asked. So thank you sir and I’m wishing a great turn around for us in the near future 🙏🏼
Dan

[garry]

Excellent recap Antonio. Keep the chin up, remember its always darkest before the dawn.

[ulrichburberg]

Start with the majors, then the midtiers, with small money buy some Explorers. That is, what Rick said all the time. That is in all commodities. You should listen to this old white man.

[reecemccullough]

I can completely relate with your experience. The first 3-5 years were very hard learning years. Still don't think I've recovered the losses from those years. But we push forward.

[gibbogle]

Your modesty is one of your attractive qualities, Antonio. In fact your ability to learn from your mistakes shows that you are very intelligent. I like your sense of humour, too.

[sanpedrosilver]

Uranium sector is pretty small. We can overthink things easily. There’s only a few producers and a bit more developer (not 100’s) companies worth looking at.
Anyway, good thing is you have time on your side and you talk to a lot of bright people, with lots of experience in the sector. You may be underestimating yourself and future potential. 1:26:06

[maxbarkdull]

Your retrospective is greatly appreciated. Being aware of experts and their particular context is very important. It's harder to be patient as someone with significantly less funds, imo.

[oldskool]

Take this famous quote of Hunter S Thompson and substitute Mining Business for Music Business : “The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side.” So true. I admire you for your honesty. A lot of YouTubers are pumpers.
I signed up for a service with one about a year ago, and bought a few suggestions, that are down 45% - 20%, today. When I questioned one of his picks, calling it falling knives, his minions jumped all over me, so I cancelled. Glad I did.
You are one of the few honest ones on this channel. Love your interviews with Rick Rule, you ask the right questions.
Keep up the good work! I guess we all have to learn from our mistakes.

[yangwarren]

Honestly reflect on yourself without self-deception is the first step of success

[dominikzohrer]

Brilliant Antonio! Your experience (and your detailed desribed problems and failures) will help a lot of new investors in the future. In my opinion this video is a true gem for new ressource investors! regards

[konradkaluszynskipro]

I never comment but could not resist an urge to praise a brilliant sense of humour and sarcasm being administered by Antonio in huge doses. I am a fifty year old hetero semi vegetarian semi carnivore person who usually identifies as male. Love the delivery and self depreciating nature of Antonio's rants. Getting my ass wrecked in the crypto winter, I have started looking into other ways of losing whatever money I have not lost yet.

[ronaldodowd]

Antonio,
I think what Rick said was if the CEO has exploration success in the type of rock in Quebec, that experience does not necessarily translate into success in South American type rock. Same thing if success came in gold while the new venture is in copper.