Hi Paul, I have not participated on this thread in several years, but I wanted to put in a plug for it and the value of long term value investing.
Because of this thread, I bought LUKOY in August 1999 at $7.50 per share, after adjusting for the May 2005 , 4:1 stock split. Total dividends per share since August 1999 just under $3, net of withheld taxes in Russia.
Price per share is currently $87.
Much of this rise, of course, is due to energy prices, but I always felt much more confident holding the stock because it was undervalued relative to its peers. Much of that under-valuation was warranted, of course, but much of it was not.
I hardly ever invest long....I'm a shortseller by nature. But I think some of my ability to hold this one was because I always love a bargain.
Anyway, I'm not sure what nugget of thought can be derived from this experience, but thanks so much for sponsoring the thread.
Peter |
