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What were your biggest investment mistakes in 2020? I start with mine:
1)
Sold:
$DIS
$UNH
$ACN
I was "caught" in the http://F.O.MO of the tech rally. I used the proceeds to buy $FVRR and $PTON which I don't regret, but I definitely regret selling those 3.
1)
Sold:
$DIS
$UNH
$ACN
I was "caught" in the http://F.O.MO of the tech rally. I used the proceeds to buy $FVRR and $PTON which I don't regret, but I definitely regret selling those 3.
2)
Not buying:
a) $ZM
b) $ROKU
c) $FTCH
I've been following $ZM since 2019. I always thought it was "just" a slightly better video platform and i've never seen a real competitive advantage. When the pandemic came I was afraid of valuation.
Not buying:
a) $ZM
b) $ROKU
c) $FTCH
I've been following $ZM since 2019. I always thought it was "just" a slightly better video platform and i've never seen a real competitive advantage. When the pandemic came I was afraid of valuation.
There is no $ROKU where I live and I had a hard time understanding the business. I should have been more persistent in studying the company. I could have bought it when it was trading at around $80.
It is likely that I know $FTCH before everyone else. It is founded by a Portuguese and I know the company since its inception. For some stupid reason I didn't pay attention and it slipped through my fingers. It should have been on my radar sooner.
3)
Not adding to winners:
$TTD
$SQ
$NVDA
I have a hard time adding more when my positions go up a lot, it's a big mistake that I have to adjust for the future.
P.S - I almost sold $TTD and $SQ in March. Thank god i didn't.
Not adding to winners:
$TTD
$SQ
$NVDA
I have a hard time adding more when my positions go up a lot, it's a big mistake that I have to adjust for the future.
P.S - I almost sold $TTD and $SQ in March. Thank god i didn't.
4)
Not having a bigger cash position.
I was fully invested in March and I missed a lifetime opportunity to buy amazing companies on a big sale. I was able to start a position at $MSFT at the bottom but that's it.
Not having a bigger cash position.
I was fully invested in March and I missed a lifetime opportunity to buy amazing companies on a big sale. I was able to start a position at $MSFT at the bottom but that's it.
5)
$LK
When the issue is fraud get out immediately. Fortunately it was a tiny entry position. No impact on my portfolio.
$LK
When the issue is fraud get out immediately. Fortunately it was a tiny entry position. No impact on my portfolio.
These were my big mistakes in 2020 but i also take some great lessons:
1) If the thesis is intact, i should avoid selling at all costs.
2) Winners keep on winning, i cannot be afraid of adding to your winners.
1) If the thesis is intact, i should avoid selling at all costs.
2) Winners keep on winning, i cannot be afraid of adding to your winners.
3) Starting new positions is exciting. I need to remember that my next great idea might be in my portfolio already.
4) I can't own all stocks, i need to accept that.
4) I can't own all stocks, i need to accept that.
5) Gut feeling matters. I had a good feeling about $ZM and $ROKU and I should have been more persistent and optimist.
6) Short sellers are very important. They are often the first to identify fraud.
7) Everyone has their investment style. Stay true to yours.
6) Short sellers are very important. They are often the first to identify fraud.
7) Everyone has their investment style. Stay true to yours.
Happy 2021 for everyone. Let's keep the bull running.
