2016 is not over yet, but I think that it's OK to analyze how things went.
That year was probably the toughest of my investing life. I've made plenty of bad investments in the past, but not with such sizeable positions as this year.
I was probably a better investor in 2011, 2012, 2013 and 2014 than what I've been in 2015 and 2016. The good thing is that I don't have to find a way to get better. I just have to go back to where I was before I lost my mind, paying too much attention to what superinvestors and insiders do. Most of them are pretty bad and I now know it (I have a very good memory for that kind of things). Just take a look at that fucking Bill Ackman with his crazy investment in Shitpotle Mexican Shit. That guy is going deeper and deeper on the territory of vanished credibility. I'm so ashamed to have believed in him.
Yes, 2016 was a very very tough year for me (Valeant, Concordia and Allergan have all been major mistakes, but only Valeant hurted badly my portfolio). I'm still amazed by the fact that my portfolio went up about 1% this year with such terrible stocks. All those fucking stocks had a shitload of debt and I bought them even though I knew it. I've been very very very stupid and I deserve what happened to my portfolio.
On the positive side, I made some good investments with Knight Therapeutics, Tucows, Biogen and United Therapeutics. My shift towards François Rochon had some benefits (Bank of the Ozarks did pretty well after Trump's election, Disney did well and Mohawk didn't really move). So, it wasn't a terrible year on every aspect.
If you compare that 1% return to the total return of the S&P 500 which has been almost 13%, you'll see that my portfolio sucked big time. I don't expect fascination from readers and Bay Street. I don't expect promo material like cups and T-Shirt written "Don't fuck with Donville-les-bains" to appear in retail stores.
To my eyes, I did good. To your eyes, I hope I've sucked. I hope nobody worships me like some people keep worshipping Donville.
I'm determined to never repeat that kind of decisions and investments. Just watch me.