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I Wouldn't Sell This Stock if I Were You

上一篇 / 下一篇 2010-05-19 12:08:13 / 天气: 晴朗 / 心情: 高兴

I Wouldn't Sell This Stock if I Were YouI Wouldn't Sell This Stock if I Were YouBack in 1995, when I had much more hair on my head -- but much less investing experience under my belt -- I discovered a promising little company that fit all my investing criteria.#x Although this company was young,网站优化, it boasted a strong balance sheet, impressive free cash flow, and tremendous growth potential.Concrete Mixing StationBest of all, the company -- I'll reveal its name in a moment -- was run by a dedicated founder/CEO who also happened to be the single largest shareholder. I happily bought shares, then even more happily sold a few months later, pocketing a tidy 25% profit. It was a textbook value investing success.

It was also the biggest investing mistake I've ever made.

I know what you're thinking

If you've lost money by following any of my stock recommendations over the last 15 years, you're surely wondering: How in the world I could consider a 25% gain the biggest investing mistake of my career? But rest assured, my experience with Dell (Nasdaq: DELL) was more painful than suffering a dozen bankruptcies.

That's because after I sold my shares, Dell went on to increase 45 times in value over the next 10 years. Even though the company has been in a slump recently,#x it still trades at more than 18 times my sell price.Concrete Mixing StationThat's the kind of multi-bagger return that can make an investing career -- or fund the retirement of your dreams, if you don't share my aspirations of being a master investor.

Fortunately, my Dell experience wasn't a complete waste. In fact, I learned a key lesson that has helped me identify other long-term winners and prevented me from selling them when they still had room to run. But before I get to that, let's examine what made Dell such a success in the first place.

Customer Focus: Founder Michael Dell couldn't afford to build the fastest or most stylish personal computers -- he was operating out of his dorm room! Instead of trying to compete with the big boys,#x Dell concentrated on the one competitive advantage he could control: customer satisfaction. Thanks to its direct sales model,Concrete Mixing StationDell could better understand its customers' wants and needs, and provide the PC that was right for them.相关的主题文章：

I Wouldn't Sell This Stock if I Were You

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