jeudi 26 novembre 2020

An exercice of nostalgia

2015: Among all the stocks I owned, only 3 of them are still in my portfolio, 5 years later (Constellation Software, Couche-Tard and Ross Stores).

2016: Only the same 3 stocks are still in my portfolio.

2017: The same 3 stocks plus O'Reilly are still in my portfolio. 

2018: The same 4 stocks are still in my portfolio + Boyd Group + Google + Carmax + Facebook + Mastercard + Edwards Lifescience. 

2019: The same 10 stocks are still in my portfolio + Visa. 

2020: I currently own 24 stocks. So, only 11 of these stocks have been in my portfolio for more than one year. Only 3 of them have been there for more than 5 years. 

That's not really what you could call "fidelity". 

I'm not writing that to preach for an heavy rotation of stocks. Not at all. I'm mostly writing that because it shows how random I've been at picking stocks over time. Not so long ago, I owned stocks like Valeant, Concordia Healthcare, Nobilis Health, Callidus Capital, Chicago Bridge and Iron.  These stocks have only known a few months or 2-3 years of glory. It shows how much a good track record is important.  

Life is full of mistakes. But what's beautiful is that, even if life bring diseases, loss of friends-parents-lovers-job-health and all these things, it also brings experience and, in that aspect, you can't regret getting older. I now know that it would be stupid to sell a stock like Mastercard or Visa. These stocks should always remain on a portfolio because there are 8 chances out of ten that you won't be able to find something better for the long term. 

4 commentaires:

  1. The most valuable thing I've learned about investing in the stock market is the value of experience...I too once owned Concordia Healthcare, Nobilis Health, Callidus Capital among others...I think that over time, thats how the market schools you.

    With expereince an investor will slowly develop his own persoanl approach to investing in the markets...Something that works for him and that he is comfortable with.

    Maybe Howard Marks said it best..."Expereince is what you get when you didn't get what you wanted'.

  2. This shows that there is not much very quality stock on the market.

  3. Agreed,another reminder to hold precious quality for the long term.

  4. Your earlier picks doubled and tripled.
    Great companies + time = Multi baggers.