Buffett said: "When the market goes up, others make money and we make money too. When the market goes down, others retreat, but we can retreat less, which is already great."
I used to like to do currency-based contracts, but recently I started to think that U-based contracts are also good because they are resistant to declines.
The reason why I used to like to do currency-based contracts was actually greed. I thought that once the market went up, the principal and the contract would rise together, and I would get a double increase. But I underestimated that once the market went down, I would also get a double decrease, which would be a double decrease.
Now when I think back to what Mr. Buffett said, I really have to admire him. I plan to do more U-based contracts in the future, and think less about whether I will make less money when the market goes up, and think more about how to lose less when the market goes down.
