My Portfolio at the End of Aug 2021

Hi Saul,

I would like to echo Kevin’s sentiments. I find your monthly updates, especially the “preposterous and ridiculous results” to be both inspiring and educational.

Educational? Yes. I look at your numbers, and I compare them to mine. It’s a measurement of how well am I playing the game compared to the Grand Master. Am I keeping up? Doing significantly better? A lot worse? (it’s usually the last one!). And I then have to ask myself why!

Did I hang onto something too long? Did I fall in love with the company or the management and that love was unrequited when the numbers came out? Do I just think about the company differently? Do I see something you might have missed? Etc.

I know your numbers are preposterous, but I also know they’re real. My portfolio was “only” up 97% last year. So, while not up as much as yours or Bear’s or others, I was still up a preposterous amount in a in a single year. And this year I’m not even beating the market right now. And you are. So now I have to ask myself some hard questions, and figure some things out if I am once again going to get preposterous results! Having a concrete yardstick provided by someone who’s been at this longer, and is so much better than me, is extremely helpful in my own self-reflection. Having only a vague sense of your performance described as “down a bit”, “up a bit”, “up moderately”, to me, is almost useless. I need actual numbers I can use to compare my own performance with. Those who do not believe our preposterous numbers, whether because they can’t or choose not to, do not matter to us here. What matters here, are the numbers, no matter how preposterous, whether those numbers represent the performance of our preposterous companies, or the returns of our own preposterous portfolios.

So, please, keep providing your preposterous numbers. Some of us need them :wink:

Thanks.

Paul - whose numbers this year are indeed preposterous, just not in the right direction!

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