As the covid bull market winds down, everyone is waiting for the other shoe to drop. What better way to pass the time then, than by loading up on yet another shoe company?
A surprisingly good year rounds out the first 5 years of mispriced markets.
What you don’t buy is just as important as what you do.
There are value traps everywhere you look these days. I avoid the temptation to try to grab some of the cheese and instead hunker down in the relative safety of my current holdings.
I decide to climb out before I dig myself any deeper into this hole.
I sell BGSF and declare an official end to a long and lucrative relationship with micro cap stocks. I look past the current market turbulence and review the portfolio from a more optimistic perspective, with an eye to the next business expansion. I also try to figure out where we stand after the recent market mayhem.
Stock market declines have me singing a cheerier tune and adding four new stocks to the portfolio while one gets squeezed out.
A deteriorating near-term outlook has me switching lanes.
I’m taking a dimmer view of market conditions than most, but nonetheless manage to find something sparkly to add to the portfolio.
I sell Essential Energy Services and double down on Linamar and Foot Locker. I claim to rarely be mistaken even though I am frequently wrong. I wonder whether overweighting cash is really a defensive move in this environment and I use my new stock screening spreadsheet to showcase the process I use to find new investments.
A significant acquisition weakens the balance sheet and has me looking for greener pastures.
Excellent returns in 2021. Could value make a comeback? A big project promises to keep me busy.
An exciting play in the technology sector uses up the last of my excess cash.
With the threat of inflation lurking in the shadows, a dose of some good old “rocks and trees” can’t hurt the portfolio.
In an effort to clean house and focus in on my highest conviction ideas, I sell Melcor Developments and Casa Systems. I explore the state of the markets, discuss the findings from my latest quarterly review and map out my strategy going forward.
I take advantage of a widening valuation disparity to switch horses, selling my Genesco at a tidy profit and moving that money into Foot Locker.
Strong commodity prices offer a good exit point.
It is with some regret that I sell my Cervus Equipment shares into the recent takeover offer.
In this bizarre feast or famine covid economy, I bypass many of the more obvious winners and instead add a covid casualty to the portfolio, hoping that a reopening of the economy will fuel a recovery in this company’s fortunes.
To commemorate the 25th anniversary of my initial foray into the markets, I look back at my experiences over the past two and a half decades and dive into a little more detail on my historical returns, hoping for some insight into what the future might bring.