Thanksgiving is a wonderful time of the year; a time of thanks and a time for reflection.
It’s a good time for investors to face up to decisions they’ve made and make sure their portfolios are still on track. By no means does every position have to be going the right way. Every portfolio needs some investments that may be out of favor and are thusly cheap, but will not stay cheap indefinitely. It’s like buying a few straw hats in winter. But what you want to know is that each company is being run well given the circumstances.
Well run companies eventually find their true values; patience is required. There are some businesses that even the best managers cannot turn around and make more valuable. But in most cases, management makes all the difference in the world. Riverplace Capital tries to get into the heads of management to understand their strategies and priorities. If we don’t like what we see, we leave. If we do like it, we exercise patience. We remain steady so you can stay steady.
the Lonely Bull