062 Michael Lumbard Retired Colonel - The Greatest and Most Challenging Game in Town

 

 

I am joined today with Michael Lumbard, Retired Air Force Colonel and self-proclaimed amateur investor. Despite labeling himself as an amateur, Michael has dabbled in the investment industry since his early 30’ before taking the plunge and getting serious. Michael has been a serious stock market investor for over 10 years. 

Before his interest and passion in the market deepened, Michael served over 30 years with the United States Air Force, aspiring to become the “worlds’ greatest fighter pilot.” Although he wasn’t able to achieve this dream – due to a slight case of color-blindness – Michael moved on to graduate from the USAF Academy, attended the Armed Forces Staff College (War College), as well as obtaining his law degree from the University of California. While in the Air Force, Michael served in the JAG and Intelligence departments and in legal offices. Additionally, he was the Vice Commander of an intelligence base in Turkey. After retiring from the military as a Colonel, Michael began working for the California state government, where he became the House Council for Remediation and later retired as the Senior Council for the department in Sacramento. 

Please welcome Michael Lumbard to the show! 

A Recap of Today’s Episode: 

• Michael shares what made him decide to start investing at such a young age. 
• He tells us why he enjoys investing, and what it is about the market that makes him want to “stay in the game.” 
• Michael explains what he considers a “gambling approach” and a “fundamental approach” in the investment industry. 
• He shares why he has decided to “shy away” from diversifying in his investment plans. 
• We get a “behind the scenes” glimpse of some of Michael’s processes: His favorite resources and investment portfolio tracking systems, as well as some of his favorite authors and contributors on Seeking Alpha. 

 

Words of Wisdom: 

• Readers tend to read and believe what they already believe. It’s human nature. 
• Don’t buy orders within the first 15 minutes of the market opening. A lot can change within those first 15 minutes. 
• Be cautious about stop orders. 
• Use limits when placing buy orders. 
• Be patient and don’t give up. 

 

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Links: 

• http://seekingalpha.com/user/870484/activity-feed#view=activity_feed