I missed that turnover quote (or failed to understand it when I last read it) so thanks for that.
What leaves me confused is when I look at these stocks (from his historical filings) and their corresponding charts, there's no obvious "get in" and "get out" signs which is why I'm desperate to find out Scion's audited annual returns. And how much his investors' made.
I'll be massively impressed if he's beaten the market in recent years - none of the picks themselves have been *that* exceptional. GME was, of course, but since then?
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This time last year he was holding JD and BABA as well as QRTEA (he had a 5x bigger position), Coherent which fell until May 2023, MGM (decent pick), WWW (which halved), BKI, SKYW (doubled quite fast) and GEO. I find it hard to see how he made money with these types of picks - even with high portfolio turnover and low concentration.
I'll continue to bet his picks that have remained private are the ones carrying his returns. The picks we see aren't a real reflection of his views which is why I'm slowly getting less interested. Berkshire, otoh, is nothing but consistently boring so changes interest me much more. |
