- Last Active
I'm a big fan of periodic contrarian investing, i.e. zigging when everyone else is zagging. Especially when there are large, unforeseen events which affect a company or the entire market. In my experience, investors tend to oversell and there are great opportunities to pick up solid assets at an incredible value (or make some short-term speculative bets). I only do this when an opportunity comes along and try not to chase this strategy, in the meantime I stay invested in big tech, financials, etc.
A couple of plays I made this year:
- RIG (Transocean) - Big, risky investment when oil stocks were getting hammered. Oil storage capacity was running out due to the pandemic demand collapse and the offshore drilling industry's long term outlook isn't great. However, this stock seemed like it had been really oversold. Hugely speculative bet but I made 2.5X when I sold.
- SKT (Tanger Factory Outlets) - These guys got absolutely hammered when retail demand collapsed due to covid. I live near a big outlet mall and could see how packed that place always was pre-covid and figured the demand would be back at some point. I invested early this summer and it has returned 117% so far.
Here's one that I missed out on:
- PCG (PG&E) - After PG&E took the brunt of the blame for the CA wildfires (undeservedly so in my opinion), the stock dropped to like $5.00. But what are you going to do, spin up a brand new utility in CA overnight? The stock quickly went back up to $18. Now, it's been bouncing around ever since and I wouldn't plan on holding utility stock for the long term, but that 3X short term return would have been nice.
Apparently the monolith from 2001: A Space Odyssey is real:
https://www.theguardian.com/us-news/2020/nov/23/helicopter-pilot-finds-strange-monolith-in-remote-part-of-utahCan we get an official Bald Move statement?
Edit: the monolith has apparently vanished