Date: Wednesday April 10, 2024
Time: 7:00pm, Pacific Time
Duration: Projected 60 minutes.
Where: Zoom (Registration)
Frequently Asked Questions:
Q: What are you doing?
A: Quarterly review, economic thoughts, and more crystal ball gazing, and finally time permitting, Q+A. Please feel free to ask them on the zoom registration if any questions.
Q: How do I register?
A: Zoom link is here. I’ll need your city/province or state and country, and if you have any questions in advance just add it to the “Questions and Comments” part of the form. You’ll instantly receive the login to the Zoom channel.
Q: Are you trying to spam me, try to sell me garbage, etc. if I register?
A: If you register for this, I will not harvest your email or send you any solicitations. Also I am not using this to pump and dump any securities to you, although I will certainly offer opinions on what I see.
Q: Why do I have to register? I just want to be anonymous.
A: I’m curious who you are as well.
Q: If I register and don’t show up, will you be mad at me?
A: No.
Q: Will you (Sacha) be on video (i.e. this isn’t just an audio-only stream)?
A: Yes. You’ll get to see me, but the majority will be on “screen share” mode with MS-Word / Browser / PDFs as I explain what’s going on in my mind as I present.
Q: Will I need to be on video?
A: I’d prefer it, dress code is pajamas and upwards.
Q: Can I be a silent participant?
A: Yes.
Q: Is there an archive of the video I can watch later if I can’t make it?
A: No.
Q: Will there be a summary of the video?
A: A short summary will get added to the comments of this posting after the video.
Q: Will there be some other video presentation in the future?
A: Most likely, yes.
Sacha, great session as always!
The question I wanted to ask you, perhaps, warrants a separate post:
What are your tips & tricks of avoiding emotional attachments to a certain ticker? Especially when multiply factors all work (e.g. financials grow as modelled / predicted, the management doesn’t do stupid stuff, regulatory environment is stable etc.)? How to avoid sticking with theoretical Berkshire?
I think keeping a good framework of portfolio percentages helps avoid emotional attachment. In the case where the company does what you think it will, the price will certainly rise. After a certain point, trim once, or if you think there is a very low chance that you have the next Microsoft (where something will do 100x) then trim as it heads up.
Let’s give a real example. Say your portfolio is 10 stocks, 10% each. One company triples, everything else is flat. That position is 25% of your portfolio, while the remaining 9 positions are 8.333% each.
Sell a third of the 25% position. You then have a portfolio that is 16.666% of the big position, 9 positions at 8.333% each, and 8.3333% cash (where you can figure out where to redeploy it). The winner can run (or you can dump it later when it has reached full value).
There’s no prescriptive method when selling is the right decision or not.
Thank you!
This is what Zoom AI thought of me:
Quick recap Sacha led a discussion on various topics including market trends, portfolio performance, and potential investment strategies. He also shared his thoughts on the aviation industry, the recent surge in commodity prices, and the risks and returns of investing in Canadian companies with high dividends. Additionally, he discussed the performance of companies, particularly those with high exposure to cash flow, and the impact of the Covid-19 pandemic on their stock prices.
Summary
Sacha’s Late-Night Finance Discussion
Sacha’s Portfolio Strategy and Adjustments
Sacha’s Monetary Policy and Yield Curve Skepticism
Sacha’s Insights on Gold, Bitcoin, and Investment Strategies
Commodity Market Trends and Investment Strategies
Sacha’s Cautious Optimism on Aviation Industry
Andrew Peller Limited, Laurentian Bank, and Lumber Prices
Assessing High-Dividend Canadian Companies Risks and Returns
Sacha’s Discussion on Companies, REITs, and Motivation