Single Stock Not Best Choice for Long Position on Macro Trend
Prelude I invested in a company operating in a dominant position of its segment within China’s processed–food chain. I liked the investment idea based on the theme that processed food consumption typically rises alongside a country’s rise in income and urbanization. We see this play out when branded products on the shelves of the modern food retail networks replace wet markets, butchers and greengrocers (produce markets). …
Read Full PostHow a ‘Good Company’ Can Still Mean a Bad Investment
During my very early days as an equity investor, I invested in a high-quality coal miner that was the market’s darling at the time. It had survived the 2008 financial crisis unscathed and delivered stellar returns in a falling market.
Read Full Post