Valuebo Posted April 10, 2012 Share Posted April 10, 2012 FTP? :'( Nah, I'd be crazy to sell FTP right now. I won't even look at that stock against until LSQ is running at 100%. Agreed. Sure wish I sold more BAC at $9.7 now (bought more FTP with it)! It's a great example of a less obvious switch. I've also sold some C at $37+ for some more BRK.B. The fact that I don't pay capital taxes helps. Those trades could even look stupid to others (although I still have very big positions in both) but for me it's all a matter of position sizing and adjusting the risk I'm willing to take. There are plenty of factors at play... I assume it gets harder the fewer positions you have because one decision can have a great impact on your return. Maybe spreading you eggs over more baskets (5-6 positions instead of 3 or 4 for example) is something you would be more comfortable with? After all, one can rarely predict wether Position 4 or Position 6 will do better over the long run. Link to comment Share on other sites More sharing options...
Liberty Posted April 10, 2012 Author Share Posted April 10, 2012 I assume it gets harder the fewer positions you have because one decision can have a great impact on your return. Maybe spreading you eggs over more baskets (5-6 positions instead of 3 or 4 for example) is something you would be more comfortable with? After all, one can rarely predict wether Position 4 or Position 6 will do better over the long run. I think that might happen organically over time, but I don't want to force it. Right now there are 4 companies that I feel very comfortable with and feel like they could be multi-baggers over the next few years, and then maybe a dozen others that I know enough about to have confidence that they should do just fine, but aren't quite to the level of those 4, so I'd rather just concentrate in my tier 1 ideas. I mean, I could add some BRK, LUK, FFH, RLI, WRB, MKL, MA, V and HHC to my portfolio, and I'm pretty sure that all of those will do just fine over the next 5-10 years (if you don't overpay). But for now I feel comfortable being more concentrated, and time will tell if I'm correct or not to do things this way. Link to comment Share on other sites More sharing options...
biaggio Posted April 10, 2012 Share Posted April 10, 2012 What book is that? Is it the PDF that was linked in the recent WSJ article, or is there an actual book about JMK as an investor? thx. I liked that WSJ article. What it described is similar to my style. http://www.amazon.com/Keynes-Market-Economist-Overturned-Conventional/dp/047028496X/ref=sr_1_3?ie=UTF8&qid=1333168039&sr=8-3 I think you will like book. Link to comment Share on other sites More sharing options...
Olmsted Posted April 10, 2012 Share Posted April 10, 2012 I might post about it at some point, but sometimes I feel like Mr. Market himself reads this board, and if I post about my portfolio, everything's going to drop 20% in a day :P Ha - good point. My one stupid post about my GNW long totally called the top in the stock. :) Good discussion here Liberty. Link to comment Share on other sites More sharing options...
alertmeipp Posted April 10, 2012 Share Posted April 10, 2012 And where is the BAC cheer leading thread? ;) Link to comment Share on other sites More sharing options...
Parsad Posted April 10, 2012 Share Posted April 10, 2012 And where is the BAC cheer leading thread? ;) Waiting for the next quarter's report...then the next...then the next...tangible book by Christmas is what I said all along. Cheers! Link to comment Share on other sites More sharing options...
alertmeipp Posted April 10, 2012 Share Posted April 10, 2012 This year, right? Link to comment Share on other sites More sharing options...
Parsad Posted April 10, 2012 Share Posted April 10, 2012 This year, right? Christmas 2012! That's what I said...barring a complete meltdown of the financial markets of course. Cheers! Link to comment Share on other sites More sharing options...
rranjan Posted April 10, 2012 Share Posted April 10, 2012 This year, right? :D :D Link to comment Share on other sites More sharing options...
CONeal Posted April 10, 2012 Share Posted April 10, 2012 And where is the BAC cheer leading thread? ;) I will revive it on it gets is put up for the blue light special (below 8) ;D Link to comment Share on other sites More sharing options...
Liberty Posted April 10, 2012 Author Share Posted April 10, 2012 What book is that? Is it the PDF that was linked in the recent WSJ article, or is there an actual book about JMK as an investor? thx. I liked that WSJ article. What it described is similar to my style. http://www.amazon.com/Keynes-Market-Economist-Overturned-Conventional/dp/047028496X/ref=sr_1_3?ie=UTF8&qid=1333168039&sr=8-3 I think you will like book. Thanks. One of the amazon reviews kind of scared me off it, but i'll give it znother look. This is the study i was talking about: http://poseidon01.ssrn.com/delivery.php?ID=144069024001068084002121099092099099026013091078022071098085085031114030081114024109016057007032110013117127119103002120080027106033087014022118078100030117065066005087013007085116100072027024065108002&EXT=pdf Link to comment Share on other sites More sharing options...
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