Only the best will do
I picked up Peter Seilern’s “Only the best will do” book which was published in 2019. I always try to further educate myself, I prefer reading the investor chronicle, they wrote a very interesting article about Peter’s book. I will be honest, I had no idea who Peter was, that’s another thing, never be afraid to admit you don’t know something.
Whether you are an “expert” in crypto, tech stock or a particular business line — you will feel much more better holding your hand up, rather than feeling pressure to “know something” a good case point — people asking me about shipping — I know nothing about. But they want to know what companies they should invest in, instead of acting like a know it all or worry if it’s going to affect my expertise — I’m just “sorry mate, not my area — but if you want to talk gaming, crypto, tech, entertainment, cannabis and some pharma — I’m your gal!”
Going back to Peter, for those like me who don’t know who he is. He started his financial career in 1973, in 1989 he launched Seilern Investment Management which focuses on American and European Funds, as well as closed-ended global investment trust. What I like about Peter, he is a long term investor who know how to excellently execute a portfolio (stoled that from Bret Hart) and let his portfolio work for him, not him being a slave to his portfolio.
That is the dream, when you are generating money through good investments. Some say “it’s luck” but I do believe in research and learning all you can know before making a decision.
The one thing I’m sort of wary about is “selling in the red” Peter believes in cutting your loses and run, when there is no hope for a return. I thought about this, I thought about this hard. In some way ways it makes sense, say I put 100 towards one stock, it’s bleeding $50 dollars, I could potentially use that $50 into something else more lucrative. Instead of letting it bleed, but also if I cash out, take a $50.00 loss, and suddenly the stock goes up 500 points by some miracle or a bunch of apes, that would suck. But you know it’s a risk we take, isn’t it?
Look at $RR.L (Rolls-Royce) for example, definitely not a short term stock. I admire short term traders, I realise that you constantly have to be switched on, but for me and my mental health, I can’t do that. Which is why I look for low buy ins with high returns. Rolls Royce is actually getting into areospace technology, which I think down the line will help benefit Britain’s own $SPCE (Virgin Galactic Holdings Inc) (which I’m proud to say, I got at 18.00 a share and can’t wait to see where it takes us in the next a couple of weeks) but Rolls Royce also helps companies like Boeing with their technology. We know the airline industry has taken a hit, but that’s why I have bought as much shares I could at a low cost, because of my long term strategy.
I think Branson is getting a lot of unfair press, especially “he didn’t make it into space he was 50mm away according to Nasa” (can’t remember the actual number) but to me that’s so petty. You can’t take the way that as a civilian with a dream, he made it into a reality. And one day, when space travel becomes more affordable. We can all “fly to the Moon” in more ways than one. If you’re interested in purchasing Peter’s book, here’s the link or you can also get it on audible too. www.amazon.co.uk/Only-Best-Will-compelling-businesses-ebook/dp/B07XVMB7DW
