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January 2013



Lessons learnt of the last 7 years, among other things

January 11, 2013 – Comments (4) | RELATED TICKERS: VLCM.DL , MWA , COLM

a) Passionate management is great to have, but may not be able to execute. It's very hard to find a combination of passionate management who are good operators in a huge potential market.
b) A strong moat tends to lose its meaning if your customer is essentially broke i.e. sometimes, a good moat may not be enough. 
c) There is usually a very good reason why a stock is trading for cheap or lower valuation for years. Make sure you understand that reason.
d) If it seems too hard to understand, it's probably better to leave it alone -- however clever the thesis may appear.
e) At some point, if you find yourself hoping for too many things to occur for your thesis to work out -- you may have to consider that you have gone from "buy and hold" to "buy and hope".  [more]

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