Seth Klarman, author of "Margin of Safety" loses $645m on PG&E
- Thread starter peilthetraveler
- Start date
PCG was one of my best stock plays! I made money on BOTH the long AND the short side. I wished I was only played bigger!
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2% is a lot on a co with PCG management........WSJ noted, again they have been thru chapter 11 back when bankruptcy lawyers charged a lot less.
No disrespect intended. However even with bear bit , no dividend like PCG; they could have made money. In thier favor, it had a good dead cat/dead rat bounce from $17 to $27 area, late 2018.
Thank you for introducing me to Klarman.
Quickly read his book. Learned a few things from reading the book. Thank you.
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Yes, like the Paul Tudor Jones post it note, noted ''LOSERS Average Losers''.Like lots of losers averaged down on GM, could have worked for while; then GM went bankrupt.Oops/ LOL . New GM is doing fine this year, as of yesterdays close.[But that did not help old GM shareholders @ all ; but they may have gotten a small dividend??]Of course when you get paid on AUM,[regardless of profit] big difference.
But a well researched battle plan averaging up, or average down plan [ well researched plan] could work real well, say if you did that off 200 or 220dma, with exit plan ...........................So something that looks the same same ,is actually the difference in daylight + dark.
Yes, my well researched battle plan on GE started at ~$25 and kept average down. Hope it is a GE and not a GM.But a well researched battle plan averaging up, or average down plan [ well researched plan] could work real well, say if you did that off 200 or 220dma, with exit plan ...........................So something that looks the same same ,is actually the difference in daylight + dark.
Value guys average down. Momentum guys average up.
Value guys are contrarians and so they see better and better upside as their position moves against them.
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The founder of Investors Business Daily, said [while he was still running it] ''i don't know why people buy ETFs- i can make more money buying stocks '' ??[small caps + large caps] Unquote.Well he was unusually good/skilled + that is how he bought a NYSE seat, out of his stock profits ,as a young man.................................
I know why some buy good ETFs, not just because one can make money with drawdowns, even though that can happen. Some sell + buy ETFs because they lose less money+ make more money, than with stocks.
.NOT a prediction.