An excellent answer indeed! I concur. When you are looking at generals, and not special situation plays, every point you make, i am in agreement with.
However, when it comes to special situations - past does not matter much, IMO. It pays to look at the present and into the future. Ofcourse i am not saying one must go crazy with it, but with reasonable doubt if you can weigh the risk and reward, it pays huge to get into a name.
This i am saying with an assumption that you have the patience to hold the equity. Look at my NBR. when i wrote about it, it was at $13.90. Only Sergio invested in it while a lot of people yelled at me. But today, if you still hold it, you would see returns that will exceed many others. Same was with GNTX when it was at $17.50. I had a 4 day conversation on it with a guy (without naming names) who manages USD 10bn+. He passed on the name and missed on a huge return. I met him last week, and it was a lost opportunity for him.....
At the end, I am still relatively young, however i believe that its great to have tools, but its meaningless if we don;t know when and how to use them.
I hope, that for my investors, I am right on CHMT.
Speakta - if you have more color on the performance of the IEP business, i did be happy to get your inputs on it! |
