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2012- Lack of ideas to invest in.
Posted by: superguru (IP Logged)
Date: December 1, 2012 11:26PM

2012- Characterized by Fed fueled asset rally. Stocks and Bonds both look expensive. Relatively quiet year. Nothing much significant happened this year anywhere in world. As usual too much noise from talking heads for nothing. Followed the value investing maxim of not doing anything.

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?

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Re 2012- Lack of ideas to invest in
Posted by: kfh227 (IP Logged)
Date: December 12, 2012 02:19PM


I also bought RFP. For the same reasons. I think an improving housing market will benefit RFP to some degree but the overall economy improving would help RFP also.

I hold alot of RIMM stock and options. Most of my money is in options though. How did you do with it? What you say about RIMM is breif but very true. To many people trust articles that are simply sourced from other articles. Anyone doing actual research knows that public perception in IRMM and the reality that is RIMM are two different things.

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