Had coffee with two pro golfers this morning. First time I’ve met them, so after some flannel about golf, I focused our chat on the important stuff.

They asked about ‘volatility’. So I opened these charts - #BTC  is the 1st; guesses on who is the 2nd?

Ponder it. Answer below.

Amazon - 1998 to 2004. From $0.26 to $5.33.

Why? To show them that world-class assets do not achieve their price potential in a straight line, and that draw-downs are part of the process.

Amazon trades today at $148.84.

"We’re gonna need a bigger b̶o̶a̶t̶ chart” ~ Jaws

Look at that volatility in retrospect. LOL.

Those who built their case and risked their capital in $AMZN back then could have lost it all; as it should be. And those who stayed the course - riding multiple drawdowns - earned their rewards.

As it should be.

(The orange pill had a visible and immediate effect.)