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Buffett regrets selling PetroChina too soon
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178investors
Veteran |
07-Nov-2007 13:46
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I'like that one. I'v never sold at the top, leaving some meats for the next guy. This I learnt from KSLi. Buffett likely did the same but time wrongly. That's all. |
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ten4one
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07-Nov-2007 11:13
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We're all ethical Investors isn't it? ............ as we always leave somethings on the table for the next lucky or unlucky Guy! Cheers! |
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178investors
Veteran |
06-Nov-2007 15:26
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I think there's a saying in the market: "Cut your losers and let your winners run". Add that: "and ignore people preaching ethical investings." |
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ten4one
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06-Nov-2007 07:38
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On hindsight, there'll always be regrets when we sold too early and the share px keep rising; and feel great when the px drop. I remember W. Buffett has often advised that "Don't look at the rear mirror if you want to move forward..." and ".............Hope that the Market will close forever after he has bought...." Well....................that is The Market isn't it? Hindsight always crystal clear and you could hardly get it wrong! Cheers! Mr Buffett, you can't win them all.................take some and give some! |
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178investors
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05-Nov-2007 15:01
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You seldom hear a value investor like Buffett saying he regret selling his stakes in a company. Yet, he was right on PetroChina. Berkshire once owned a stake of about 11% of PetroChina. They started disposing of the shares around July and were totally sold by October this year after coming under alot of pressure from some hardcore Berkshire shareholders who were dead against the Company's investment in a Chinese Government State Company with tie to Sudan. Berkshire initial investment of around US$500 million in PetroChine had grown to US$3.45 billiion based on estimate sell price around US$150 per share. A 600% gain! What if Berkshire has held on and what it is worth now? Based on last Friday's closing price of US$250 per share, Berkshire stake would be worth US$5.75 billion. And Berkshire look like they will be forgoing even more. PetroChina ipo debut on the Shanghai exchange today could propel that initial 11% stake to well over US$6 billion easily. Imagine forgoing another 600% of profits in just a matter of weeks. No wonder, Warren said he sold too early. |
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