Yea I think you are right it is recent I do not follow Buffet much anymore so I missed it
As an aside, everything bought in the first half of '09 is way up makes me think that my stock picking is not so important!
it., it is like buffet saying "In a bull market, one must avoid the error of the preening duck that quacks boastfully after a torrential rainstorm, thinking that its paddling skills have caused it to rise in the world. A right-thinking duck would instead compare its position after the downpour to that of the other ducks on the pond." Yea everything just about has gone up significantly since that point, but I believe I am up much more than if I just held what I was holding a year or so ago, or any mutual fund. I have paddling skills lol, but anybody would have done well on most anything they selected and held but not many had the courage, I believe I did much better than the avg duck my return last year was a few 100% and this year I am up around 20% and I am not batting no where near what I was last, I am around 70%. Natural gas sector was my worst idea because I am deep in the red on that sector and Natural gas is closer to 3 than what I thought would be 7 or 8 @ this point, but other than that I have been hitting the ball out. Best performer would be VFF.TO that one was a 100% gainer this year I have actually sold most of my positions 2Xs in that name and bought back a little cheaper so I am up well over 100% despite the lowest price being in the .70 cent range and it is around 1.40 now. Worst performer would have to be GMXR but I made another good call when I sold out around 4.30 and put it in SD around 4 who went on a tear to almost 6 then fell back to around 5.6 where I sold out because got a little spooked when the CEO sold around 25% of his holdings and felt I had too much there so I got my money back on GMXR. So, anyways hit some pot holes this year (BP, GMXR, MIR) and was not a smooth ride like last but I am very happy to be up what I am up and do not think it would have been as rewarding if I held all the names I did last year now. Looking daily @ the 52 week lows, what the insiders buy/sell, valuation, and what the gurus are buying I believe is better than just holding certain names forever. It like another buffet saying, The fact that people will be full of greed, fear or folly is predictable. The sequence is not predictable." I am always looking to take advantage of peoples fear, and it works out more than not. |
