I have been in the market like 20 years. Is mostly about speculations in the early years of investment with some help from NTA, or dabble in Warrant plays. Estimated portfolio size in 2007 was about $100 K. Active portfolio is much more significant now.Stock market do not works by "Annual Way" like I do in my annual bookkeeping. So I have annualized return figure of my investment life. However this is still important because performance needs to be closely monitored just like companies reporting their quarterly and annual results to keep management on their toes. If you take care of your quarterly, your annual result will be ok. Assuming 2017 stays good, out of recent 11 years, I have three losses in 2008 (50% loss) , 2011(13% loss)  and 2015 (5% loss). As you can see, Year 2008 is mind changing for those who are heavily invested. Is ...