With the last trading session of FY24 behind us, it is a good time to compare the FY23 end PF to present & introspect
Reflections:
(1) Improve position sizing. Keep buying your winners without any price barriers. It is indeed difficult, and I need to do more of upward averaging in winning stocks.
(2) Don’t fight the sectoral headwinds. The bottom up approach has to be married with sectoral tailwinds, you can’t fight against the tide. Either become a fast churner or suffer underperformance when the sector is out of favor.
(3) Bull markets are good for exits. A rising tide lifts all boats, no matter how ugly. Be prudent to switch from leaky boats and don’t step into another one in the rush.
(4) Base rate and P/E at entry are critical. Once the euphoria subsides, fear of loss overpowers the fear of missing out and mean reversion becomes the norm. No matter how lucrative the pathway looks, go back to base rates, always.
This has been a phenomenal year, especially for the Midcap and Smallcap investors, to Congratulations to all who could benefit from the trends.
Unfortunately was not the best productive year for me due to the reasons mentioned above. Here’s looking forward to another year of learning & investing.
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