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I’m starting to feel that Christmas spirit. Malls are getting busier. Amazon is getting more clicks. Office productivity is dropping to seasonal lows. My waistline is getting bigger. And I think it might even start snowing soon here in Toronto where I live.
Around this time of the year I also start to reflect… Yesterday I was thinking about my old job at Best Buy, and how I committed one of the biggest errors of omission in my investment career. The year was 2005, and I had just finished my exams (1st Year, University of Waterloo). I moved back to Mississauga with my parents for the Christmas holiday break, and resumed a part-time job at the Best Buy in Oakville, that spanned a couple of weeks. I worked in the camera department lol (who buys cameras anymore!?). Anyways, I’d also walk the floor at Best Buy to help other customers, and noticed that the new Apple iPods always sold out soon after the store received a new shipment. The product was hot, hot, hot. I was 18 at the time, and if you’ve read about my investing journey, you will know that I only held 5 stocks in my portfolio at that time. But while I was always seeking and researching new stock ideas, I didn’t invest in Apple. The opportunity was literally right there in front of me. Doh! Big error of omission.
In hindsight, investing in Apple (AAPL) was a no-brainer, but looking back at it logically, Apple still hadn’t released its uber-product – the iPhone – which catapulted the company into the big leagues. I invested in Apple years later, but obviously didn’t capture a big chunk of its price appreciation. I missed a couple of ‘baggers’ there. You live n’ learn. Now, I like to plant seeds in stocks if I have a strong gut-feeling. But then if things don’t work out with the company, the inner-debate becomes, “What’s worse; errors of omission (i.e., I failed to pull the trigger on an eventual winner) or errors of commission(i.e., I pulled the trigger but then lost money on a loser)”?
I certainly didn’t commit an error of omission on Canopy Growth Corp (formerly “Tweed”). If you’ve read my book, Market Masters, you might remember that I wrote in 2015 about first buying into Tweed while it was trading around $1/share. Now Canopy Growth Corp (TSE: WEED) is trading around $20/share. It might soon become my first 20-Bagger (up 20x). We’ll see.
Ok – now I’d like to make an announcement. I’ve recently partnered with this cool, new platform called Patreon to offer some of you exclusive content. Many of you know that I provide quarterly updates on My Top 10 Stock Performers through this newsletter. However, I don’t ever reveal my full stock portfolio, or watchlist, and only provide updates every three months – never on a monthly basis. Well, with Patreon, that’s all going to change. I’ll still release quarterly updates (i.e., my top 10 stocks) through this email-newsletter, but if you want more, you need to visit, and become a member on my Patreon page now. Who knows; maybe I’ll find another 20-bagger early just like Canopy Growth Corp (TSE:WEED). But mostly you’ll get to see ALL of my well-researched small/mid-cap Capital Compounders for the first time.
Anyways, check it out. If 100 members sign up before Christmas, I’ll donate another $500 CAD to the SickKids Foundation. I’ve already donated $1,000+ to-date through the release of Market Masters.
Giving is a wonderful thing 🙂