A very short story on the power of one good investment…

1/ I’ve made a bunch of bad investments in my career. Here’s just a partial list:

$ARCO
$BH
$DVN
$GPRO
$JD (we’ll see)
$LM
$P (now owned by $SIRI)
$UA
$UPL (bankrupt)
$YNDX (we’ll see)

2/ In fact, my hit rate on investing in outperformers is probably below 50% -- the investing Mendoza line. I also used to run one of our Supernova portfolios at @themotleyfool where our accuracy rate was about 40%.

i.e. I stunk it up.

3/ But at some point early on, I managed to put some money in $AMZN. I then had the fortune and forethought (probably not, but it makes me feel better to think so) to buy it several more times. We did the same for the Supernova portfolio.

4/ When I walked away from Supernova earlier this year, the portfolio had amassed an annual return of 15.3% (compared to 11.2% for the S&P) over almost 7 years. Its performance has only improved since thanks to @aaronbush100 and @flippen_emily

5/ This Monday my family and I move into our new house. It’s a bigger, better house than we could have ever dreamed of owning.

To fund its down payment and closing costs, I (reluctantly) sold half of our $AMZN position.

6/ $AMZN is still our largest investment position.

/End