Stanley's avatar
$2.9m follower assets
Way Out Wednesday
14 stock positions increased/added.

Additional investments into my Stash Portfolio (5)

$ATVI - $94.22 consensus price target. Continuing to add more for the $MSFT buyout arbitrage play.

$MMM - $158.88 consensus price target. DCA down from previous buys. Increasing a 'core' position.

$ETSY - $156.42 consensus price target. DCA down from previous buys. Not a 'core' position so will consider flipping for a profit when the market recovers.

$PINS - $31.45 consensus price target. DCA down from previous buys. Not a 'core' position so will flip for a profit when the market recovers.

$ZG - $53.69 consensus price target. DCA down from previous buys. Not a 'core' position so will flip for a profit when the market recovers.

Additional investments into my M1 Finance "Fat Cat Investing" portfolio (9)


The 'Fat Cat Investing' portfolio is down 0.56% today and 5.20% overall since inception - a part of my ongoing "Real Estate Rumble".


Stanley's avatar
True, but you know, goals 😂
I could just as easily list each stocks 52 week high, but that figure too could be years away, given the current situation it’s all a crapshoot.

Or my profit/loss on that position but I’m not sure how helpful that would be.

Suggestions?
Steve Matt's avatar
@fatcatinvesting I guess I don’t have any suggestions, mainly because I don’t believe in setting specific targets (sets me up for feeling like a failure when I inevitably get them all wrong). My only “target” is to beat my benchmarks. I also don’t short-term trade though. Anything I buy is something I think could be in my portfolio for 10+ years.
Eric Messenger's avatar
I would be very cautious of analyst estimates too. Check out David Dreman’s Contrarian Investing book. Shows the emotional bias of the analyst and how strongly it can influence targets. Been added to my top 5 all-time investing books and I’m not even half way finished. Can’t believe it was published in 1981, the year I was born, and I’ve never heard of the dude. Here I thought I’d created an infallible investing strategy, cultivated from a decade of reading legendary investors, academic research, & hands on experience; but ol’ Dreman taught everyone exactly what I do in the early 80’s🤣

But be cautious of analyst reading crystal balls.

“Forecasts may tell you a great deal about the forecaster; they tell you nothing about the future”

-Warren Buffet (The GOAT)
Steve Matt's avatar
Just out of curiosity, why do you cite analyst price targets when their track record for being right is basically non-existstant? For example, ETSY on this day one year ago had 15 analyst estimates for average PT of $226.00. Most PTs are for 12 months out so that average was wrong by nearly 200%.

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