Earlier I had the erstwhile Max India (before demerger) which included Max Healthcare, Max Ventures and Max finance. Yes, I had sold all three and at bang on wrong time after getting frustrated. All three businesses were excellent but promoter intention to exit had been hurting returns. Finally all three got good homes and went to do excellent.
Regarding re-entry, its in the Max India catering to senior living, care homes etc. part. Again the business is good and very long term in nature. Having seen Max India erstwhile ups and down, I have conviction that sooner or later this promoter does well with its companies either with it or exiting it with right deal with right people.
Last time I did not have patience and there was no precedent to learn from. This time, having learnt from past on same promoter, I have trust (for now) that over long term, value will be created.
Also, last time 10% or more of my then portfolio was invested in Max. That was big enough number to be losing patience if we lose even little bit of conviction. This time its just 0.5% now. I wanted to scale up to maybe 2-3% to begin with but stock ran up too fast after my first entry.
Disc: Same as above.
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