tag:blogger.com,1999:blog-9031526429482744032.post9005115447038930828..comments2024-03-27T08:05:06.228-07:00Comments on Don't fuck with Donville: Observations about so-called good investorsPenetratorhttp://www.blogger.com/profile/01670644029306203741noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-9031526429482744032.post-72773418883593470622021-01-31T19:07:02.164-08:002021-01-31T19:07:02.164-08:00Only owning 5 stocks feels risky but maybe it isn&...Only owning 5 stocks feels risky but maybe it isn't. How many strong companies end up going to shit in a short amount of time? Late in 2019, some guy told me he only owned Facebook, Twitter, Square, Apple and Netflix. They weren't small positions either. But why only own 5 if you don't have to. Fatsohttps://www.blogger.com/profile/16351689833019644049noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-48526460128400464022021-01-31T15:58:40.399-08:002021-01-31T15:58:40.399-08:00Wasn’t he supposed to be on BNN last fall? Some pe...Wasn’t he supposed to be on BNN last fall? Some people (maybe you) wrote that in the comment section. <br /><br />I think you shouldn’t expect that soon. Penetratorhttps://www.blogger.com/profile/01670644029306203741noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-16017637528939015772021-01-31T14:35:53.144-08:002021-01-31T14:35:53.144-08:00Hey penetrator I can't wait to see your ex boy...Hey penetrator I can't wait to see your ex boyfriend Jason Donville on Bloomberg(BNN) soon!!!!!!! Maybe he can recommend Valeant(Bausch) pharmaceuticals so we can lose not only our shirts but also our pants!DeanMasterStockPickerhttps://www.blogger.com/profile/14212503004797478188noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-32472351802499121632021-01-31T14:31:03.813-08:002021-01-31T14:31:03.813-08:00I have about 25 stocks, 25% US and 75% Canadian(mo...I have about 25 stocks, 25% US and 75% Canadian(most of which do business in the US). I am up 29.5% in my TFSA fro 2020. Not bad, right penetrator?DeanMasterStockPickerhttps://www.blogger.com/profile/14212503004797478188noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-90858777126096146422021-01-31T10:20:51.143-08:002021-01-31T10:20:51.143-08:00Exactement hehe ! Faut croire que je m'étais p...Exactement hehe ! Faut croire que je m'étais perdu avec l'anglais! Allardohttps://www.blogger.com/profile/02501213217361319234noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-52295047234578512002021-01-31T09:43:10.879-08:002021-01-31T09:43:10.879-08:00Me semble que j’ai écrit exactement ça dans mon te...Me semble que j’ai écrit exactement ça dans mon texte? Penetratorhttps://www.blogger.com/profile/01670644029306203741noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-37708345980029307632021-01-31T08:16:14.990-08:002021-01-31T08:16:14.990-08:00Ce commentaire a été supprimé par l'auteur.Allardohttps://www.blogger.com/profile/02501213217361319234noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-72712298032230015762021-01-30T17:10:59.660-08:002021-01-30T17:10:59.660-08:00I agree with you. I’m not sure that 20 stocks is t...I agree with you. I’m not sure that 20 stocks is the absolute number to aim, but I wouldn’t go under 15 stocks.Penetratorhttps://www.blogger.com/profile/01670644029306203741noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-11103124348548985022021-01-30T17:09:55.431-08:002021-01-30T17:09:55.431-08:00Even if I think I know how to find a great company...Even if I think I know how to find a great company, 8 stocks is not enough for me. Because you may very well do bad with 2 or 3 of these stocks and the impact on your portfolio will be important.Penetratorhttps://www.blogger.com/profile/01670644029306203741noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-80149022119283215882021-01-30T16:43:00.974-08:002021-01-30T16:43:00.974-08:0020 stocks for under 5M works well. Monish Pabrai, ...20 stocks for under 5M works well. Monish Pabrai, I dont understand...risky!Edutraderhttps://www.blogger.com/profile/11152124371486503665noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-27602406837015145372021-01-30T14:19:30.414-08:002021-01-30T14:19:30.414-08:00I think it is almost as easy to find 20 great comp...I think it is almost as easy to find 20 great companies in the US market than to find 8. Around 20 stocks is recognized as a sufficient diversification as many savvy investors would say. With 8 stocks, your biggest position is probably around 15-20%, if that one goes wrong it represent a big chunck of your portfolio. But I definitively agree that the individual investor does not have time and ressources to find and follow 50+ stocks.<br />Petehttps://www.blogger.com/profile/13515577281463642261noreply@blogger.comtag:blogger.com,1999:blog-9031526429482744032.post-59425699156875151442021-01-30T13:16:22.883-08:002021-01-30T13:16:22.883-08:00I humbly disagree about your views on diversificat...I humbly disagree about your views on diversification...<br /><br />The key for me is to know what I own (management, business model, industry), so I think its important not own too many stocks...<br /><br />I lifted the following out of my own blog from a few years ago as a counter-argument (based on Joel Greenblatt's take on the subject).<br /><br />'In a world where ETFs with 50 positions are considered “concentrated”, Joel’s definition of “concentrated” is wildly different than the mainstream view. The mainstream view is that “risk” is volatility of returns and “risk” can be reduced by holding more positions. Joel suggests that as few as 8 stocks in different industries is sufficient to properly diversify a portfolio.<br /><br />8 stocks would result in so much volatility that it would be career suicide for any professional investor. Most people can’t handle volatility. A small investor with the right temperament can. Unfortunately, most small investors squander this advantage. We’re never going to beat Wall Street at their own game: namely, smoothing out returns and reducing volatility (i.e., pain) with fancy financial engineering...<br /><br />Most of the volatility is meaningfully reduced with a handful of positions. Joel offers a caveat, however, and suggests that if you are going to run a concentrated portfolio, it is best to diversify among a group of different industries.'...<br /><br />I've really improved my investing performance once I paired down my portfolio, and my best performers have come from my most concentrated positions.<br /><br />But that's just the way I see things...every investor will have decide for himself how he is going to handle the subject of diversification.Gavinhttps://www.blogger.com/profile/04771103734767703683noreply@blogger.com