JOSB

I bought here 15/6/2006 JOSB and I paid 25.18 for a stock. Now almost exactly 2 years later the JOSB costs 25.8.
No change you say ? Maybe, in a mean time the stock went from 25 to 46 then to 18 and now back to 25.

As you can see stock market is really efficient especially if you take company with no debt and nice free cash flow

 

CMZ

I bought  CMZ here 26/6/2006 for 11.02 and now almost 2 years later CMZ costs 11.8. No change again,but in a mean time company went from 12 to 7.5 and back to 12.

 

HANS

I bought here HANS 15/8/2006 for 29.76 now HANS costs 30.24 . No change, but in a mean time company went to 70 so it could fall back to 30.

 
There was a time when I thought I can play deep value games the result is I can't.  None of them worked out.
DFC,TUES,APNI

I also tried to play  turn arounds (TBL) and macro bets they didn't work out as well.

It means I should focus on easy businesses with good balance sheet and I should leave turn arounds,deep value plays and macro bets for someone else.



PS: I know Warren you warned me.....