Luck or What?
Normally people like to talk about there success stories, especially if they are related to how they scored over a hot chick or how they doubled or tripled their money by picking a hot stock.
Let me do just the opposite. Since I am yet to find a ten bagger (a stock that multiples 10 times after you buy it) let me tell you about one I missed.
In early 2002 I was fairly convinced that the market for watches in
So I decided to go and buy stocks in watch companies. At that time I identified 2 companies as worthy of investment
A) Titan Industries
B) Timex Watches.
I invested equal amount in both the companies and almost forgot about the same. I needed some money after 2 years and decided to sell Titan and retain stocks of Times. Rest as they say is history. Titan went on to become one of the biggest gainers in next 8 years multiplying money more than 30 times. Mind you Timex also did fairly well and multiplied money 3 times over next 8 years. But 30 times is definitely many times more than 3 times. The difference is phenomenal and one wonders how much individual genius was in the whole process and how much part was played by luck in this whole saga. I some time wonder what would I have done had I sold Timex and retained Titan? Sour grapes? Maybe, but next time I will try to be more careful try not to sell my winners too soon.
Thanks for reading, please do leave a comment.