2012- Lack of ideas to invest in.
I found hardly any interesting ideas. I invested a little in RIMM, RFP (both watsa positions), CAJ and INTC
RIMM- Just got too cheap to ignore. Better management than Nokia and HPQ. Good product and brand name in a growing and high margin market (smart phones). Strong financials.
RFP - Just followed Watsa into it. Totally speculative.
CAJ - Always liked their products. Finally got cheap enough to hit my buy price recently.
INTC - Treating it like a perpetual bond. Semi conductors will always be required no matter if MSFT loses or not. Laptops are not going to go away soon. Desktops - no clue who buys them anymore. Slight concern around their weak position in mobile.
Currently looking at companies in miners, energy, tech and steel sectors (MT) for 2013.
Biggest mistake l made was moving into Europe too early in 2011 and it is still too early. Luckily it was small position but paid opportunity cost of missing US rally for those assets.
I focussed in 2012 on learning how to avoid value traps. I invest only in my retirement accounts. I am bottoms up contrarian value investor. I learned most of my investing right here on gurufocus,
What have you been investing in or looking at currently?