Impunity wrote:VituVingiSana wrote:As I have said on many occasions... I learnt an expensive lesson from KQ. It is something I want to share with fellow Wazuans. Do not fall in love with a firm. Always evaluate the Management and Industry.
In this case, I bought into the PR of KQ, the superman 'Naikuni' but I forgot or ignored the warning signs.
Another such firm [even though I still like it but for solid reasons] is Kenol. I ignored the hedges and paid more attention to Segman's PR stunts.
I hope you (& others) learn from my mistakes.
You really loved KK, if I were careless enough I would lost quite a chunk.
There is a post I asked you about your passion about KK (4 years ago) and you told me "FUNDAMENDOZ"
I did. I overlooked (or ignored) the hedges that Segman had in place. Later we learnt he [apparently a one-man show] had both Forex and Price hedges.
So when the KES went from 107 to 84, KK lost huge.
And when oil prices dropped from 100s to 50s, KK lost huge.
I hold KK but overall I have lost coz of Opportunity Cost i.e. 8/- then is worth more than 8/- today.
I held on coz I saw 'recovery' but I should have sold. I am confident KK will do well going forward but I remain cautious and read all I can about KK & the industry rather than the PR.
KQ - I did not see recovery then nor do I see recovery today. I sold out post-Rights.
These are the lessons one learns from one's mistakes. I hope you learn from my mistakes.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett