SKT Sky Network Television Limited.

[Balance]

Looks like big boys might be busy plugging numbers into abacus to come up magic figure, volumes suggest they're not yet in today in a big way..

It has probably run a bit too hard for them - buying volume was at $2.50, then $2.60 but retail investors seem to be setting the pace now?

At $2.70, the stock has rerated up 59% in less than 2 weeks!

[Balance]

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[LaserEyeKiwi]

$2.74 - starting to get interesting…

[winner69]

$2.74!!!!!!!!!!!!!!!!!!!!!!

Double bagger pour moi …..cool eh and pretty good for a punter whose been told he’s not the sharpest pencil in the pencil case

[mistaTea]

Double bagger pour moi …..cool eh and pretty good for a punter whose been told he’s not the sharpest pencil in the pencil case

Fantastic result, well done mate.

Just how awesome this outcome is though also depends on how many shares you purchased!

[Balance]

Double bagger pour moi …..cool eh and pretty good for a punter whose been told he’s not the sharpest pencil in the pencil case

Bravo! Well done!

[RGR367]

Double bagger pour moi …..cool eh and pretty good for a punter whose been told he’s not the sharpest pencil in the pencil case

Did we say that because of your MFB

[Bobdn]

I really have no idea.

Been re-reading a lot of Jack Bogle lately too…

Funny, I've gone almost completely Jack Bogle/J L Collins/Mr Money Moustache. SKT is my last individual share and I'm itching to get rid of it to make my transition to a passive investor complete. I'll never make my money back on it unfortunately but every day the pain is a little less. I had written it off completely so this is wonderful Christmas bonus.

I love my passive indexes and ETFs. I no longer have to worry about things like the convention centre catching on fire when I was a SKC and FBU investor. Or another Air NZ strike or covid variant.

Between 2009 and 2017 things were good and I can hand on heart say I mostly did better than the indexes (NZX, S&P500, ASX) through pure luck but I did some silly things in the years after that that undid a lot of my good work. Eventually one's luck runs out.

I miss Jack Bogle. He had a great saying when markets are in turmoil "Don't do something, just stand there". Boy, has that served me well over the last 18 months.

https://www.youtube.com/watch?v=ItmmwvCBJqg

[mistaTea]

Funny, I've gone almost completely Jack Bogle/J L Collins/Mr Money Moustache. SKT is my last individual share and I'm itching to get rid of it to make my transition to a passive investor complete. I'll never make my money back on it unfortunately but every day the pain is a little less. I had written it off completely so this is wonderful Christmas bonus.

I love my passive indexes and ETFs. I no longer have to worry about things like the convention centre catching on fire when I was a SKC and FBU investor. Or another Air NZ strike or covid variant.

Between 2009 and 2017 things were good and I can hand on heart say I mostly did better than the indexes (NZX, S&P500, ASX) through pure luck but I did some silly things in the years after that that undid a lot of my good work. Eventually one's luck runs out.

I miss Jack Bogle.

https://www.youtube.com/watch?v=HJigiR4B3g0

I miss him too, a great man and has allowed many millions of people around the world to get a fair share of the pie with low costs.

I gave myself 10 years to assess whether my Charlie Munger-style consolidated investing approach would beat the index. I am 8 years in...I started off doing phenominally well, until I bought a material amount of Sky 4 years ago.

This recent bump has made the picture look a lot better, but as it stands my 8 year CAGR is significantly lagging the NZ50.

Now then, the NZ50 has been growing at an 'unusual' rate with record low interest rates, stimulus packages etc...and Sky TV has been punished excessively (the market risk for Sky turned out to be much bigger than I could have ever imagined, especially when the pandemic hit. The price fell through the floor more than most other companies and we just didn't see the rebound a few months later like we saw elsewhere).

Still, even if I make some adjustments here and there to allow for these anomolies...right now I am still underperforming the index.

There has to come a point (I have given myself a good shot with 10 years) where you have to objectively read the situation and adjust accordingly. If the reality is I am more likely to make more money long term passively investing in ETFs then it would be crazy not to switch.

Jack Bogle understood the human animal though...in his last chapter of The Little Book of Common Sense Investing he talks about how, even though his recommendation is 100% index, he knows people will still want to buy individual plays. So he recommends 95% index and 5% max for individual picks.

My weighting to individual picks will be higher than 5%, but I am open to shifting my portfolio to have the majority of funds tracking two or three indexes.

I will be 40 in a couple of years - I worked out that if I put $1M in an index then, and received an average total return of 8% pa...even if I did not add another cent to it (but just reinvested the divvys) I would have damn near $7M by 65. Purchasing power will have eroded by then, but still...that is a pretty good result considering you don't really have to know anything other than hold the conviction that the businesses in the index will, as a group, produce more and be worth more over time.

[sb9]

Double bagger pour moi …..cool eh and pretty good for a punter whose been told he’s not the sharpest pencil in the pencil case

Well done there, for me with today's price its officially the biggest returner of my portfolio this year