10 bagger bazaar
I am absolutely amazed to report that its recently occured to me that I have some 10 baggers.
BZ, GNW, CEM (now in bankruptcy as cemjq.pk), GGP (also now in bankruptcy as something insane), TCK, and LVS. A couple call options are also 10 baggers but those don't really count I guess. MGM and TCK calls have run 10x ++ in the time i've owned them.
MCGC is likely to wind up one, ACAS and ALD still have some chance in the fullness of time. XL, HIG, ASH and CNO have a good chance (i did not buy the bottom in CNO, congrats to everybody who did), PNX has at least some chance even if it is a disaster. A couple other call positions have a chance also. LEE and MNI have a chance. ODP has a good chance. TNL has a shot.
Being more optimistic, RJET has some chance (i did catch the very bitter bottom for some shares), JOEZ may make it.
And if I hold a long time or a big bull market breaks out ...
Thats how insane this crash and rebound have been. I was down 25% at once point overall, down on every single stock I ever bought except GRNB and RRGB (I've since sold RRGB). Everything else I ever bought I was down on at one point, often by alot, often by a whole lot. 10 months and 6 10 baggers (not on all shares of any of those BTW, just on some shares).
And the market is still down 30% from where it was almost 10 years ago. More if you view it in other currencies.
Crazy, crazy stuff.
I would like to offer for anybodies consideration, including my own: are we sure that bearishness (provided one has a long term perspective) is warranted here? The S&P is down what? 50% in Euro's in the last 9ish years? 30% in dollars? In history, ever, has that been a bad long term entry point? The only precedent is the great depression. Even in the 70's there wasn't a point when stocks were this much lower than at some point so long in the past. To counter that, ... in 2000 the market was at an unprecedentedly high valuation after an unprecedented bull run.
If markets tend to confound popular belief... whats the one thing nobody expects? an ongoing bull and new highs, a strong economic recovery, and all of that. I'm not predicting we'll get any of those, i'm just observing that, historically, the marmket is still notably downbeaten.