Solidarity's latest letter to partners has a section where the CIO has done a postmortem of the investment in Solara. It's exactly what happened when I dabbed into $Vaibhav Global Ltd at high valuation and further averaging it down. A costly mistake.
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Mihir Patki
@mihir
1 year ago ~440 views
There was just so much learning in those 2 pages. Some things that stood out to me
- no hesitation in admitting that extrapolation of covid earnings was wrong - low prices being a value trap if earnings are not sustainable - willing to be patient if financials results are weak due to external environment (also touched upon this in their example on $Mayur Uniquoters Ltd ) - market provides opportunity to reallocate to more conviction names, so no point holding on to a stock where thesis is invalidated
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