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The long climb back to the 90s club and I intend to stay!



September 20, 2008 – Comments (0)

It's been a long climb back to my position of the CAPs 90's club and apparently, I have gone several steps better and ... I am alive and kicking at 98.11 position. 

Life is sweet at the moment.  


The current crisis of sorts has taught me several lessons:

1) Never underestimate the extent of human fear. The illogical rise of the cost of rice in the wake of the rise in corn is case to point. In the same way, never underestimate the extent of boundless human optimism. 

2) Bear markets expose your weak points of your patchwork portfolio but allows you to create the portfolio of great companies (at low prices) that you always wanted. Remember to hold long term. Think Shelby Davis.

3) Look in areas that people do not look for. David Gardner likes to hang out in the seemingly high P/E stocks (which value investors typically avoid) but that is a area where no one looks. Buffett invested in railroads when not many were looking while Martin Whitman likes looking at extremely distressed companies.

Still learning and maturing.  

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