Portfolio positioning

[LC]

Ericopoly, I can see the real brains of the family is your wife. We moved 40 miles from Monterey to Santa Cruz and it was still to close to my wife's family.

 

My father married an assertive strong-willed woman and I did the same.  They are both Amazon women.

 

I will never be free.  I have money but I have no real decision making power.

 

 

+1

 

Hah, to quote Wash from Firefly, "Have you ever been with a warrior woman?"

[ourkid8]

There was an error in your post as Mohnish currently has 6 US positions (BAC, C, CHK, GM, GS and ZINC) which he has to report  but we do not know what other International holdings he may have. (ie. Canadian and International)

 

In regards to my portfolio, 74.77% of my portfolio are in 6 positions and the following are in the order of weight - Philip Morris International, Fairfax Financial, Chou Associates, Bank of America, TD Bank and CN Rail. (33.01% is in PM and FFH alone)

 

I am debating what to do with my smaller positions in their portfolio.  I have numerous positions the following size - 0.42%, 0.83%, 1.93%, 2.37%.  Does everyone keep smaller positions or consolidate them for the next fat pitch?   

 

S

 

Opening the discussion on portfolio sizes - there are a few ways to go about it.

 

Mohnish has gone from 5% positions to concentrated portfolio of four stocks.

Ericopoly has one position only

Munger has three- four positions in djco

Biglari has a concentrated portfolio with CBRL/BH as the main ones as well

 

It would be good to hear from the current super investors such as gio, Sanjeev, twacowfca, valuecfa, Moore, uccmal, tariq et.al ( I am sure I left a few out - error of omission, not of commission... )

[premfan]

No one is 100 percent right all the time. If he is right 3 out of 10 that is considered good. Portfolio positioning should be directly measured on how superior YOU think you are. Its perception mixed with prior results. The more superior you think you are the more concentrated you can be.  Most people are probadly not really good at investing so i'm thinking a portfolio size of 12-15 would be ideal for most morals.

[ubuy2wron]

Read Nassim Taleb's books. Not everybody likes his writing style, but he does know his math.

 

Read his books but DO NOT bother listen to him speak. I had the misfortune of attending an event where he was the key note speaker recently. He is by far the worst public speaker I have ever listened to. Given that he is a regular on the speaker circut and paid quite well I was amazed how awfull he was. I have read most of his popular books and was so much looking forward to his talk.