Originally Posted by
cymonger
Back in 1997 or so, I was a bartender in Chicago. I has saved my first $10,000 and wanted to do something for my "future self." A lot of big traders came in to the bar I worked at and I asked for some advice. I told one of these guys I was considering buying Walgreens stock. He said, "Do you want to be a wealthy man? If so, take that 10,000, buy that stock, and request those certificates. Then put them in a drawer and don't even THINK about opening it for another 20 years. For years I wanted to get those things out and sell them. The stock would go up, it would go down, and I worried I would lose all my money.
But in the end I waited those 20 years and now that 10,000 has secured my future for a long time. When you are almost positive a company will grow in the foreseeable future, they have produced great results in the past, and you believe in the validity of your research, this is how you build wealth. I firmly believe THL is one of these kinds of companies. So many people want to come to New Zealand, and it's not remotely expensive relative to what it used to be even 20 years ago. This is a "drawer" stock as far as I'm concerned. Sure the craziness in the US market, the fact it shot up so quickly in the last few months, and a high PE may have a slight affect on the stock in the short run, but who cares? Put it in the drawer and look up in 2022 when it's at 10+ if you must. That's my play here.
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