In March 2017, i made a presentation to a close group of friends on why i think this unique experiential company will double in 3-5 years, despite the volatility i was observing then, and even though the company has just reached its all time high. Immediately after that presentation, the price came down some 10%.
Subsequently, due to their improved performance and management’s aligned capabilities, their operating income improved by more than 50%, and investors started rewarding them.
Trade Tariffs? NKorea Nuclear Threat? Increased Interest Rates?
Yes, these are important macro factors; And yes, there are more critical factors to consider when investing in the public markets, the important thing is to learn them before you invest with your hard earned money.
Avoid investment traps, avoid management who clearly do things that are unaligned with you, avoid those short term hype and fad.
Identify those high quality businesses, management with integrity and who would stand by your long-term interests, invest in real value-adding businesses.