Anodyne
Monday, November 19, 2007
 
So Many Times It Happens Too Fast

Anodyne Inc. distributions:

Parkland Income Fund (PKI.UN): 3510 units x .0967/unit = $339.42 (15 Nov)

TerraVest Income Fund (TI.UN): 1109 units x .041667/unit = $46.21 (15 Oct)

Cash balance, $2466.36

The markets are holding a pre-Christmas sale. The USD portfolio looks like it was hit by a falling 747, and the Canadian portfolio isn't that much prettier. Fortunately I judge my performance over a rolling three to five year period. A medium- to long-term holding period is a blessing for anyone with legendarily short patience; it removes a lot of doubt and anxiety. It's bizarre to me that, say, Loblaw Companies, Canada's largest grocer, is valued today by the market at 18% less than it was on Thursday, and is essentially selling for the value of its real estate, with the grocery business thrown in at no charge. The bookstore had a slow day today, with lots of crabby people and negligible sales, but I don't think it's worth 18% less than it was yesterday, with the aisles packed and a lineup of folks waiting to buy things.

Owning and operating a business is good preparation for investing; it teaches patience in the face of adversity. "Rising up to the challenge of our rival" & etc.
- posted by cjb @ 8:30 PM


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