We Missed Gains, but We're Not Losing Sleep - Views on News from Equitymaster

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The Equitymaster Research Digest

We Missed Gains, but We're Not Losing Sleep
Jan 20, 2017

Warren Buffett hasn't got many of his big investments wrong. But what rankles him are his mistakes of omission - the great stocks he thought he'd buy but wasn't able to for various reasons. One of his biggest omissions was retail giant Wal-Mart. That mistake alone cost him a whopping US$10 billion at one point.

In our latest Microcap Millionaires report, we take a look at our mistakes of omission, though from a slightly perspective. These are the stocks we did recommend in but failed to maximise gains. In other words, stocks that went on to offer even higher gains

We've closed a grand total of 22 positions since inception in Feb 2014. On average, each stock we closed has gained 38% after our exit. However, we aren't losing sleep over it as Buffett might. For unlike Buffett, this is very much a part of our process. Here's what we wrote in our defense...

  • The thinking that dominates our mind is this: Our strategy of this service is to take advantage of stock prices that are clearly and undoubtedly undervalued. And to sell when the undervaluation has disappeared, or two years have passed, whichever is earlier. We lay no claims to an ability to...
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