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I know this doesn’t mean anything, and is absolutely not repeatable, but…


giofranchi
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My firm’s equity is up 11.33% for the first 24 days of 2015: 7% due to the EUR/USD movement, 4,33% due to my investments.

 

It is the very first time I experience such a rapid and unexpected appreciation… therefore, I beg you to bear with me… and let me brag just a little bit! ;D ;D

 

I am very well aware this won’t last and a sudden reversion to the mean is going to occur in the next few days!

 

Cheers,

 

Gio

 

PS

In fact, I do hope a reversion to the mean occurs very soon, especially in the EUR/USD exchange rate: I am really pissed off by the fact the Euros my firm will earn going forward have a much reduced buying power… especially because I use them to buy USD denominated assets! ;)

 

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Congratulations, Gio. Although I don't always agree with you, you're one of the most interesting members of the board regarding your career and accomplishments.

 

May you continue growing wealthier with each passing year.

 

Thank you very much! Too kind of you! :)

 

Cheers,

 

Gio

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Guys, I understand the urge to be rude to people on the Internet - I've done it myself many times - but is it really necessary to rain on someone who's having a good day? It's not like he's posting misinformation about Sears' credit agreements.

 

Who cares if it doesn't really mean anything. Gio got a kick out of it, and that's what matters. I'm pretty sure it doesn't mean the stock market is going to zero on Monday.

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Guys, I understand the urge to be rude to people on the Internet - I've done it myself many times - but is it really necessary to rain on someone who's having a good day? It's not like he's posting misinformation about Sears' credit agreements.

 

Who cares if it doesn't really mean anything. Gio got a kick out of it, and that's what matters. I'm pretty sure it doesn't mean the stock market is going to zero on Monday.

 

Most of all because I would actually welcome a stock market crash!... Anyone who knows and cares about what I am doing knows this!

 

I understand tombgrt and investor-man are the true gods of investing... Ahahah!!!!... But for the rest of us, mere mortals, an 11% in less than a month is an anomaly, a rare event... Nothing but a curiosity... And as a simple curiosity intelligent people would have read my post!

 

Cheers,

 

Gio

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Guys, I understand the urge to be rude to people on the Internet - I've done it myself many times - but is it really necessary to rain on someone who's having a good day? It's not like he's posting misinformation about Sears' credit agreements.

 

Who cares if it doesn't really mean anything. Gio got a kick out of it, and that's what matters. I'm pretty sure it doesn't mean the stock market is going to zero on Monday.

 

Most of all because I would actually welcome a stock market crash!... Anyone who knows and cares about what I am doing knows this!

 

I understand tombgrt and investor-man are the true gods of investing... Ahahah!!!!... But for the rest of us, mere mortals, an 11% in less than a month is an anomaly, a rare event... Nothing but a curiosity... And as a simple curiosity intelligent people would have read my post!

 

Cheers,

 

Gio

 

 

hey gio, congrats..... although I have no idea how often 11% in a month occurs, I reckon quit often.....

 

 

 

Which was part of my point (and that of investor-man's post I'm sure). It occurs often, especially if you are concentrated, both to the up- and downside. There is little use in eyeing your results on a YTD basis starting in the fourth week of January... It adds to greed, impatience, etc and likely stems from a long bull market. Not healthy imo.

 

Gio can flip the tables and act as if we are the ones boasting about our returns and how we "don't get his posts" if that is what he wants to do with our input.  :)(FYI: I care little about my month over month returns and even less about what other people think about them. The latter because I mainly copy others in my investments. I add little personal value and look at any positive returns as the result of the hard work of others.)

 

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I mainly copy others in my investments. I add little personal value and look at any positive returns as the result of the hard work of others.

 

I can appreciate this, but not the excessively negative connotations in the words you've chosen to describe what is my investment process also!  It's gratuitous self-deprecation.  It takes years of study and hard-won experience, not to mention uncanny savvy and wisdom, to settle on this sound investment policy! (emoticon/emoji)

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Good points but give Gio a break. He is a thoughtful, accomplished businessman and investor. So he does understand that such short term performance is meaningless, just look at the title "I know this doesn’t mean anything, and is absolutely not repeatable, but…". It is not like these thoughts do not cross our minds once in a while. Gio just thought it out loud.

 

Vinod

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You are both right, my apologies. Should've been more nuanced or learn to shut up when I disagree with Gio.

 

Nonsense.  A guy starts a thread with "I know this doesn’t mean anything, and is absolutely not repeatable, but…" to boast about one month return, on a supposedly value investor forum, is asking for it.  Keeping in mind also the context of previous posts.

 

Shall I now put multiple smilies at the end of my post to make everything OK? Here:  ;D ;D ;D ;D

 

Here is also a disclaimer about everything I wrote doesn't mean anything and whoever is awesome and everything: *disclaimer here*.

 

I actually think that what this board needs is more negativity. There used to be more short-sellers here. Get them back.

 

And ScottHall you are the last to give lectures considering all the sh*t you talk about this board on twitter.

 

Smilies here and one more disclaimer.

 

Just another day making friends...:D

 

 

 

 

 

 

 

 

 

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The problem is that whenever I try to talk to Gio, he somehow manages to misinterpret my posts. That's why it might be better to just ignore him altogether, even though I didn't mean to attack him. I don't seem to have that problem with other members here, on the contrary. The fact that English is our 2nd or 3th language doesn't help either.

 

Still agree fully with what both said (cobafdek was talking about our process, hence the apologies), but weighing what you should and shouldn't say over the internet will always be a pain when communicating with some. Thank god we have emoticons. Right Kraven? :)

 

Agree with the lack of negativity lately. More negative posts or criticism of others doesn't mean it can't be constructive and balance things a bit. From time to time, I'm sure I would benefit of someone telling me more how idiotic some my investments are.

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This is just a retarded topic and the fact that you are allowed to open topics like this doesn't mean you should. If you have 3000+ posts and manage your own company you are probably a bit of a role model for new posters and you should refrain from bragging about short-term results. It is childish, useless, encourages excessive risk taking and sets a bad example.

 

I also don't understand why other people feel the need to defend Gio: "Yes, this is a stupid topic but let's be nice to each other and cuddle him". He's been around here for a while, he knows that his posts are considered controversial at times and he should be smart enough to expect some flak if he opens a topic like this.

 

There you go. My negative contribution for the day >:( >:( >:( . I'm up only 80% annualized or something so I have the right to be angry.

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It's possible to tell Gio this topic  is stupid without being offensive.

 

Also seen as a role model? Sure, but no-one who considers themself a value investor will take this topic as anything but a lighthearted feel good topic. Let's not take ourseles to seriously please.

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It's possible to tell Gio this topic  is stupid without being offensive.

 

Also seen as a role model? Sure, but no-one who considers themself a value investor will take this topic as anything but a lighthearted feel good topic. Let's not take ourseles to seriously please.

 

Right now I am up 79% annualized. You should use a spell checker before posting  >:( >:( >:(.

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It's possible to tell Gio this topic  is stupid without being offensive.

 

Also seen as a role model? Sure, but no-one who considers themself a value investor will take this topic as anything but a lighthearted feel good topic. Let's not take ourseles to seriously please.

 

Right now I am up 79% annualized. You should use a spell checker before posting.

 

I'm up 81% annualized now due to trade in an illiquid holding. I'm sorry about my previous post and I'm sorry about offending Gio. I agree with everything you said  ;D ;D ;D.

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I think it is critically important on a forum such as this for people to focus on the ideas being discussed, and not attempt to attack the people behind the ideas.  If someone disagrees with an idea put forth in a post, by all means present (politely) your disagreement with the idea, however strongly you wish.  However, attacking the person who put forth the idea is virtually certain to squelch freedom of expression on this forum, something I think nobody wants.  It is also not a good way to "Win Friends and Influence People."

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Gio

 

Please continue these kind of posts in "General discussion". It highlights two economic insights that is not generally apparent when currency changes.

 

1) S&P 500 firms profits from Europe will show big drop due to currency translations

2) Low EUR will create resurgence in exports and it might pull the economy out of doldrums.

 

Any posts that give an insight offers value to others. The ones that don't add value are

a) Mindless criticism & ad hominem attacks

b) Comments like "I sold BAC/XYZ at $$ before drop and got lucky"....

 

Adding several hundred stocks to a portfolio produces market average (mediocre) returns. I guess the same applies to a forum.

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