One of the typical attributes of a young, impatient and a restless investor is to desperately look at new investing ideas when the existing ones look as promising as the rest. So the moment you meet someone the first question that comes to you is �Aur Naya Kya liya� (What did you buy new?). Isn�t that strange? Why do people want new things in life � always? So many families could have lived happily had people not looked for the new? Likewise so many investors could have stayed and become wealthy had they not tried identifying the new. Spare a thought for the guy who having bought Wipro in 1980 looked to exchange his stock for something new in 1981. A Rs 10,000 investment in the company would have grown to over Rs 350 crores had he just stayed with the old.
So does it mean that investors should do nothing and just sit back after an idea has been identified? Certainly not, all ideas need introspection and a constant monitoring vis-avis the new ones that come in every day. The only cost of investing is opportunity cost. So if Company A is doing well and someone whispers to you about the prospects of Company B then try comparing Company B with Company A before committing your money. If A is still better then B then buy A until you hi the 15% open offer limit!
Peter lynch says that the best stock to buy could be the one you already own.
Suppose you were running a restaurant, or a casino or a hotel, would you have looked at putting more money buying a new business each time your existing business threw back cash or would you have tried to consolidate your position in the business that provided maximum return for capital? Money has no emotion, given a free run it would flow to the spot that provides it maximum return but the emotions of the person in whose pocket the money resides allows it to do foolish things in the garb of looking at something new.
Many people look to buying something new to avoid the pitfalls of putting all eggs in one basket but one should remember that as long as the basket is strong and capable of holding the weight there is no harm in putting several eggs in one basket and if the basket is weak then even one egg can break the same. The idea is look for strong baskets not necessarily new ones.
There could be months where a smart astute and serious investor would not get new investing ideas in that case it would be prudent to analyse the existing stocks in the portfolio rather then hold cash and wait for new ideas. If a stock that he holds does not qualify as a buy then he has no business holding it in the first place.
[QUOTE=pay2gain] The post was really very informative. Definitely its better to stick on to our stocks which we already hold.[/QUOTE]
Did I miss something? which post are you referring to??
[QUOTE=wiseowl]
"If you don't feel comfortable owning something for 10 years, then don't own it for 10 minutes." - Warren Buffett
[/QUOTE]
Best advice from the grand old man of investing!
Hello..i m shilpa...i m very new here...i want to share ideas and views related various topics...thanx
Hi Basantji
just read this thread.....Have a question regarding my investing style
I always seem to find a way to be 100% invested....My major investments will be in companies what I think are high quality but the remaining cash I do deploy in commodities, cyclical's etc as I feel they also project a money making opportunity (not permanent value but temporary value)....My logic is to be invested fully, in case it is a new bull market.....And as and when stronger opportunity presents itself, I exchange a relatively weaker idea for that stronger one
My question is this a better way of investing or is it better being in cash and wait and wait until the truly great idea comes along.....
Since I am a relatively new investor, I do not have the confidence to hold only 4-5 stocks.. My portfolio consists of 10-12 stocks at any point in time
I do see myself always looking for new ideas either to deploy existing cash or to look for stronger opportunities as in the long term, I wish to hold a more concentrated portfolio
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Really You are right..Good advice
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Posted on:3/16/2012 2:39:03 AMkoolvalue
Thank You Basant Sir,
Your remarks and comments are like lighthouse for investors
like me who use them as benchmarks to take decisions while
investing.