phil_Buffett

i recently finished The Outsiders - William N. Thorndike great book. nice summary about amazing Managers. i now starting to read Distant Force a Memoir of the Teledyne Corporation and the Man who created it - Dr George A. Roberts

my biggest mistake was Blackberry. my first buy was last year when the stock was around 6$ almost at the low. i saw the Company not dead yet and allot of good assets, prem in it and so on. i bought a Little stake, make good Money on it. my first mistake was that i take the trading mentality. normally i have the value Approach, great bargains, longer term Holding period. but this time it was the wrong side. the fact that you earn a lot of Money in short time was the devil. i sold it after very short time with around 40% gain. then i didnt follow it closer and the rise in Blackberry stock goes on, i was angry that i sold to early. after studying it closely i decided to go back and invest in it again, i think this was in the end of December 2012 last year when the Shares Drops after bad earnings. i bought a lot of Shares, especially because of the release of the new smartphones in end of Januar i was very optimistic. and i saw still a lot of value in it. the stock rises very much thereafter in Januar and i sold short before the Launch date for a 40% gain in one month. this was all great, big gains in very short time. but then the Errors beginn. i bought a Little stake back before the Launch (too much greed) then as everybody knows the Launch was terrible, i was in the red, bought more and more Shares. the rollercoster begin stock up and up and stock down and down. i put more and more Money into it,. i was so blind of to much greed. read the prem watsa comments especially the fair value of 40$ in a few years and so on, thousands of articles why Blackberry is so good and so on, have the Feeling that this Thing will double in a year. but then after the downtrend begin with bad Marketing ( i hated how they doing Marketing) the bad earnings, the false promises from Thorsten heins (that he will sell tens of millíons of q10) i realize that it was a big mistake ever to invest in such a Company. with this competitors Samsung and apple and lot of other Players. Blackberry was a good Company, great assets, great Chat, great patents, great engineers. but they do all steps wrong. all steps! i trusted also too much on the words of prem watsa and chou for example. that the patents alone would be worth 13$. i was to greedy and then i sold my stake around 8,5$ with a 40% loss. the end of this mistake is, i made Money altough i have a 40% loss. i made 40% two times (80% gain combined) and then i lost 40%. so i have still 40% more Money. but it was terrible. i make an Investment what i never would do again. in such a specific Branche and terrible Situation. my lesson is that i never buy such a Company again, and only buy things that i can hold longer term and sleep well at night. too much greed is very dangerous.

Very nice!! congrats :)

almost the same as you packer ;D. a lot of FIATY, GNCMA, GVC, AIG, SD

very nice!! thank you sanjeev :)

As am I, someone reads VIC.... Just saw it yesterday and now moving cash around to buy. Yes, VIC is a good board! HOWEVER, I must give credit to XXX1313. He tipped me off to Nevsun (very nice gain) and Mawson West. I bought a little bit a while ago, and I'm kicking myself I didn't get more. Mawson West very well might be the cheapest company out there. I think they are going to put up some very good numbers. There is risk with them, but the valuation is just too compelling, management looks good. We'll see soon! whats the Thesis behind mawson? i dont have Access to the vic. would be great if someone of you give me a short Explanation. would be great thank you :)

@ Peter buffett did you mean intesa sanpaolo?

interesting to see aig trades still under 1xbv. if the grow the book value the next years the gap widens more. so i love it when the drop 6% like to day, so that i can buy a Little more. When do you think aig reaches 1xbv or trades for a premium to bv? i think 2015 it should trade for a premium to book e.g. 1,1-1,2xbv

iam Holding about 20% in cash today

bought more BP and ZINC