Friday, July 22, 2011

Luck Favours the Prepared

How often do you come across a great opportunity that you cannot take advantage of either because you were fully invested in something else. or because you were too slow to react because of the many distractions that eat up your time.

That is why I believe that being prepared to take advantage of these lucky opportunities that present themselves is just as important as the opportunities themselves. It doesn't matter how great the price of this property because the owner is an ignorant divorcee wife or the panic that is going on with RIM at the moment. If you are not prepared to take advantage of the situation you will not gain anything.

Many people got rich from the recession, Think about it, was it luck? The same opportunities were available to everyone. However only the prepared were able to take advantage of the panic. Now we call them Lucky.

How can you be prepared? It is simple. never be 100% invested. always keep some cash or credit available. you could tie it up for that 3 or 4% returns, or you can sit on it and wait even for 1 or 2 years for that great deal that will give you 20% or 30% returns.


  1. Long time - good to see you posting again. Started/increased any other positions (besides RIM) during the latest slide? Some good dividend paying CDN financials are trading down at good levels around where you've bought them in the past - RY, PWF, SLF, CM, etc. On the energy side, HSE and SU have also been beaten down despite solid reports.

  2. I've been a big fan of oil stocks lately, many are trading at significant discounts to NAV