Q: Hello team,
On Monday last week, I purchased a 10% position in Valeant. This was after seeing the videos on BNN on both side and also asking you a question about my decision to do this. I reasoned that I am a long-term investor and I would not touch this money for at least another 10 years. This has not changed. What has made me question my original decision however is the promise of new report that is even worse, further reveals Valeant’s accounting practices, and shall “nail” the company following their presentation last Monday. I didn’t think philidor story could carry that much weight in the end and that is why I bought in. Now, I think where this whole story is going to stop with a masterfully planned report releases to do maximum damage. Would that point be “beyond point of repair” for the company?
I know everything is possible and I know you cautioned me against too much weight here. I made the mistake and I learned my lesson. My question here is how much I have to pay for the lesson. I know that the additional loss on Friday was a response to the news for this Monday release and the damage is already in the stock again. What I am asking here is: should I look away and ignore all of this noise or should I at least try to lower my weighting and reduce my overall losses. I will be still holding the company if it happens to be around 10 years from now.
I think time is the only thing I have on my side as a retail investor. Andrew Left and other short sellers have made their money. Bill Ackman will make money by averaging down. And perhaps, I won’t lose money if I sit still and don’t react at all.
What do you think?
Having you guys at 5i cannot be appreciated enough during such times. Thank you!
On Monday last week, I purchased a 10% position in Valeant. This was after seeing the videos on BNN on both side and also asking you a question about my decision to do this. I reasoned that I am a long-term investor and I would not touch this money for at least another 10 years. This has not changed. What has made me question my original decision however is the promise of new report that is even worse, further reveals Valeant’s accounting practices, and shall “nail” the company following their presentation last Monday. I didn’t think philidor story could carry that much weight in the end and that is why I bought in. Now, I think where this whole story is going to stop with a masterfully planned report releases to do maximum damage. Would that point be “beyond point of repair” for the company?
I know everything is possible and I know you cautioned me against too much weight here. I made the mistake and I learned my lesson. My question here is how much I have to pay for the lesson. I know that the additional loss on Friday was a response to the news for this Monday release and the damage is already in the stock again. What I am asking here is: should I look away and ignore all of this noise or should I at least try to lower my weighting and reduce my overall losses. I will be still holding the company if it happens to be around 10 years from now.
I think time is the only thing I have on my side as a retail investor. Andrew Left and other short sellers have made their money. Bill Ackman will make money by averaging down. And perhaps, I won’t lose money if I sit still and don’t react at all.
What do you think?
Having you guys at 5i cannot be appreciated enough during such times. Thank you!
