MR. WANG of Changsha, home to renowned Hunanese cuisine, turned 110,000 yuan into nearly 2.2 million yuan in few short years by primarily clinging to one stock.
Investor
Wang definitely got in on the ground floor with Sany's share price in
2003. The stock is now about half the value it achieved at its peak in
2010. Source: Yahoo FinanceWang got in on the ground floor with Sany, so to speak, buying in at around just under two yuan per share in late 2003, shortly after the firm launched its IPO.
When Wang decided to quit while he was ahead – way ahead – Sany shares were flirting with historical highs of 23 yuan and the savvy investor’s original capital had surged from 110,000 to nearly 2.2 million in 2011.
Wang's success just goes to show us that sometimes it’s not so much the company you keep, but can be just as much about timing and picking the right sector.
Read? PRC Investor Retired On 20-bagger held from 2003 to 2011
Posts
Moral of the Story.
ReplyDeleteSoros is right in his saying.
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." ~ George Soros
Read? Why it is easier to become rich from property and not stocks?
CW,
DeleteThat's why I rather be lucky than "think I know".
Not only must get in a good price; hold a substantial stake; must also know when to get out!
I guessed Mr Wang was able to profit from his mistake. 2008 forgot to sell; 2011 was the you can't fool me twice decision time! Good for him.
My problem looking back is I sell too early. Now practicing how to sit tight.
I guess for others it could be not to overstay their welcome... Sell when the sun is shining ;)