Sunday, February 05, 2006
Stop and Think
I still don't have a full portfolio of investments. I have ETLT, Strathmore, CXTI, CVU, LVWD, and some cash. LVWD is less than a half-investment. CXTI is rapidly approaching full value. I'm going to need at least one more investment.
The method I'm using to revisit companies seems slow and cumbersome and the timing is random. I fear that I'm missing opportunity. I also don't have a good method for organizing the list of companies and every possible method has big problems.
I've shifted a lot of the work from the final analysis phase to an intermediate phase where companies can get revisited over and over until there's some trigger to do a detailed analysis. I've dropped the checklist all together, which is not a good idea.
It's difficult to go back and find any given company in the previous posts.
The companies I'm following are not necessarily good businesses. If I could go back and do it all again, I'd keep only the ones that seem solid.
What's the most productive thing I can be doing now? What's the biggest move on the Go board?
The last question is the most important: What's the best move to make right now? Finding investments? Fixing my methods of revisiting companies? Bringing back the checklist? Making it easier to find past writeups? Weeding crap out of the companies being followed?
Weeding out crappy companies is happening as I revisit them. In fact what I'm doing now is probably the most cost effective way to weed them out.
Bring back the checklist, remove portions that are not needed, put it in the blog. Add new stuff over time. Keep the current checklist maintained in a separate post which is linked on the side.
Everything other than "finding investments" is part of the evolutionary process that I normally go through. Revisiting companies will get easier when the crappier companies are removed.
1) Do the backlog of investigation work.
2) Process the rest of the "raw sewage".
3) Continue revisiting companies.