HGH - Heartland Group Holdings

[percy]

Working well means that it must have produced higher returns than investing the equivalent equivalent amount at the same time into a SP500 index fund.

I find it exceptionally difficult to believe you have outperformed the market over 50 years.

The time you want a stock price up is when you are not confident in your estimate of the amount of cash it will produce in future. Which is the case for some of my holdings.

If you know there is a 100 note in 2 years time you by definition want to be able to purchase that $100 for as cheap as you can get it for now.

Please do not offer me any more of your advice.
Others may find it of interest,I certainly do not.

[SailorRob]

Please do not offer me any more of your advice.
Others may find it of interest,I certainly do not.

It's not advice. It's called maths and common sense.

All a waste of time if a cheap index fund produces higher returns, you are literally expending time and effort to lose money (the difference between index returns and yours) over 50 years it will be tens of millions.

[SailorRob]

Please do not offer me any more of your advice.
Others may find it of interest,I certainly do not.

A point very worthy of noting, and sorry to use you as an example Percy, but you will be enjoying a great retirement with plenty of money there is no question about that.

If however you had invested in the sp500 for 56 years instead of doing what you have done, you would have had a 30,000% return on your original money.

If you had added to your investment over those 56 years even just a little, you would have well north of 50 million now.

And could easily be over 100 million.

So the difference is what it's cost you to do your thing.

Any young people reading this please take note.

[mike2020]

SR my 2023 was rubbish. My nz div stocks dived and my growth stocks didn't grow. My small cap aussie stocks which have served me well previously, didn't. Im no trader, ive made a few long term choices and I take a good look at them all regularly. 2020 2021 was just too easy.

[SailorRob]

SR my 2023 was rubbish. My nz div stocks dived and my growth stocks didn't grow. My small cap aussie stocks which have served me well previously, didn't. Im no trader, ive made a few long term choices and I take a good look at them all regularly. 2020 2021 was just too easy.

Mike, you have nothing to worry about - I posted this Buffett quote on Black Monday. 'For some reason, people take their cues from price action, rather than from value'


I would not think about worry about or even look at your share prices, instead focus on the earnings and dividends. I would imagine that over your whole portfolio the aggregate earnings increased in 2023 and you would have had a pretty good year.

What I would do is add up all the earnings from all your holdings and compare them to last year or an average of the last 3 years. If the earnings have held up and the share prices are down then this is good news, you can buy more earnings for less. Assuming you are not using your entire portfolio to live off you can reinvest your dividends at higher rates.

The quoted stock prices you are thinking are rubbish simply don't matter to investors like us, it's just a snapshot in time of what other people will offer you, not the actual value of your holdings.

Add up all the total earnings of all your companies and as long as they dont reinvest them at low rates of return then that is the minimum you will earn this year from your portfolio, doesn't matter what the share price has done. Leave that to the Percy's of the world. We are playing a different game.

I had a bad year because my stocks went up.

Berkshire, my biggest holding is up 15 odd Percent which is a nightmare for me. I want it down.

Focus on your earnings and what your companies are doing with them and how you can buy more of them for less.

So instead of your first line - my div stocks dived and growth didnt grow etc... How about 'my business partners lost their minds and decided to offer me their share of the business at ridiculous prices' This is a great thing.

[percy]

Yes Mike2020 Aussie has been difficult, but CNW provided a good profit,but the stand out performer was my largest Aussie holding, ATP finishing up a massive 436% for the year.
NZ was mixed too,but loading up with 2CC in May [my largest NZ holding] saw a 150% increase on my average cost,plus I received a fully imputed divie.
My hobbie has been the share market for 57 years.A good number of those years I had no funds to invest,but still followed the market.
Having such an interesting hobbie has been both a lot of fun and financially very rewarding.
If you can not devote the time to do good research, you are best to find a good fund manager.
The more research I do the better the results I get.

[Muse]

Yes Mike2020 Aussie has been difficult, but CNW provided a good profit,but the stand out performer was my largest Aussie holding, ATP finishing up a massive 436% for the year.
NZ was mixed too,but loading up with 2CC in May [my largest NZ holding] saw a 150% increase on my average cost,plus I received a fully imputed divie.
My hobbie has been the share market for 57 years.A good number of those years I had no funds to invest,but still followed the market.
Having such an interesting hobbie has been both a lot of fun and financially very rewarding.
If you can not devote the time to do good research, you are best to find a good fund manager.
The more research I do the better the results I get.

Sounds like a much better return than the index too…obliterated comes to mind.

[Baa_Baa]

While we are all way off topic, let me ask you "what is success, from your investing"?

Is it dying, with a perfect investment success of a few millions, or tens or hundreds of millions, maybe a billion or more? Have you lived a life that enjoyed your success, or just plowed it all back into making a poultice and your and your loved ones life never really changed that much, while you did it?

... they'll cash out your legacy and enjoy the riches you left them. Most of them will squander it.

Is it living a life, yours and your family's, drawing down on your investing success, making all of your and their lives more successful and enjoyable from your investing prowess?

... you'll all never suffer from not having money, they'll all do very well, but probably some, maybe most of them will squander it.

[Baa_Baa]

A point very worthy of noting, and sorry to use you as an example Percy, but you will be enjoying a great retirement with plenty of money there is no question about that.

If however you had invested in the sp500 for 56 years instead of doing what you have done, you would have had a 30,000% return on your original money.

If you had added to your investment over those 56 years even just a little, you would have well north of 50 million now.

And could easily be over 100 million.

So the difference is what it's cost you to do your thing.

Any young people reading this please take note.

The only thing we don't know, it's what your definition of investing success is, and whether that applies to us.

Not all of us have a 50 year horizon, the maths doesn't work so well if we're working to a shorter term horizon, in fact it invalidates us and refutes our investment goals.

What's your solution for this?

[percy]

While we are all way off topic, let me ask you "what is success, from your investing"?

Is it dying, with a perfect investment success of a few millions, or tens or hundreds of millions, maybe a billion or more? Have you lived a life that enjoyed your success, or just plowed it all back into making a poultice and your and your loved ones life never really changed that much, while you did it?

... they'll cash out your legacy and enjoy the riches you left them. Most of them will squander it.

Is it living a life, yours and your family's, drawing down on your investing success, making all of your and their lives more successful and enjoyable from your investing prowess?

... you'll all never suffer from not having money, they'll all do very well, but probably some, maybe most of them will squander it.

For me it has been "independance.,and freedom of choice."
I achieved that by being very happy in my business of selling books to schools.
Another book rep once said to me why don't you buy a Merc instead of your Toyota.
I replied once you can afford to buy a Merc there is no desire to do so.
Wealth from Investing.One daughter through University.One granddaughter through university.
One daughter in a mortgage free house,after paying out her ex,other in a mortgage free flat.Some time in the next few years will get the granddaughter housed.
Wife needed a stent earlier this year.No waiting, in and had it done.
Wife saw a holiday home raffle.Clarks Beach.Had never heard of it.Booked for 3 days early April.
I see a lot of guys older than me still working on the roads.I think how lucky I am to be able to enjoy my favourite past times of reading books and following the markets.
When my achilles tendons come right wife and I will be back enjoying our walks.
I went out for lunch with my oldest friend and former business partner awhile ago.He has been very successful in real estate.Told me there was nothing he wanted,or needed.Funny enough I feel the same.
I think you know you are well off when you do not faint when you get your dentist's bill.