On june 22nd 2014, I started this blog. Although I was a blogger since 2005 on a more personal level, I never blogged about serious topics such as finance and even less using the english language.
The first question that comes to mind is "where has gone my naivete?" I'd say that maybe it went at the same place where virginity goes after the first sexual intercourse.
Here's some observations:
1- I had much more conviction in my opinions at the beginning of this blog;
2- I thought that many stock were worth of consideration (now I believe that about 1 or 2% of stocks are worth of consideration);
3- I didn't consider profit margins or earnings predictability at all (they both are very important for me now);
4- I bought canadian stocks, mostly (65% of my portfolio was in CAD);
5- I believed in some analysts and superinvestors;
Yes, my blog was probably funnier back then, but fuck, I'm so ashamed of my 2014 portfolio. Let's take a look at it:
Constellation Software: 10,6%
Cipher Pharma: 8,9%
Loyalist Group: 3,5%
Macro Enterprises: 2,2%
NTG Clarity Network: 2%
US and foreign stocks
Questcor Pharma: 7%
Portfolio Recovery and Associates: 5,9%
Dollar Tree: 3,3%
Ross Stores: 2%
I owned a few great stocks but many crappy stocks. Among them, Rifco was sold for about 6,10$ at the end of june 2014 and is now sold for 0,90$. Loyalist Group is dead. Macro Enterprises lost about 50% of it's value. NTG Clarity Network was a 0,28$ penny stock and is now a 0,04$ penny stock... And I don't want to talk about Valeant because I've written too many posts about that fucking stock.
However, I owned 70 shares of Constellation Software which had a value of 19 000$ back then. If I hadn't sold any share, that stake would represent almost 140 000$ today.
In retrospect, I would say that I was bad investor in 2014. Not a super bad investor like those who speculate about stuff which they know jack shit about. But I bought some really crappy stuff.
Yes, I was bad, but do you imagine how bad readers were to give some attention to a guy with such a portfolio? I probably had the worst readers in the history of the world in 2014.