Thursday, February 11, 2016
Comments on today's financial news
* 2015 ( and 2016 likely) is the year when the stock pickers died. Ackman is the latest casualty. I had published a book on Buffett 3 years ago not to invest with the legend (esp. past legend). The readers would have avoided the poor returns. I had many ridicules on it and now who is laughing (or crying)?
* There was a star in a hedge fund one year and next year he had to be let go due to poor performance. My theory: If they reached the top, they must have taken excessive risk. It is the same for most stock competitions. That's why turtle investors win the race.
* Cisco stocks were given to my grand children for long-term holds. It was recommended in my SA article that I claimed to have the best one-year performance for 5 or more stocks. Any challenge?
* I followed Mylan due to its rise. I did not invest on it. Their concept of generic drugs can be copied. The new acquisitions are poison pills to prevent hostile takeovers. When the music ends and there is no chair available, they fall.