During the 2012 Berkshire Annual Meeting afternoon session, at the 1:40:00 mark, Charlie said that Berkshire’s record would have been terrible compared to how it turned out if Warren hadn’t kept learning all the way.
Each decade, to make the record decent, he had to learn to do some things he didn’t know how at the start of the decade.
And in 2013 Charlie Munger said, “The game of life is a game of everlasting learning if you really want to win.”
“Winning” is pretty subjective, right?
I mean, just ask Charlie Sheen about “winning”.
For me, I think winning is being the best version of myself with the current information, knowledge, and experience gained.
Not to mention the scary thing is that being wrong feels exactly like being right until you are proven to yourself that you are wrong.
And even scarier is very openly sharing that with the world!
One of the biggest lessons for me has been steering clear of highly capital-intensive businesses like Duke Energy (DUK).
Especially those in highly competitive industries, like AT&T (T) or Verizon (VZ).
While Duke Energy is a regulated utility, making it a bit like a monopoly, it’s always going to have limited upside potential.
So we exited Duke completely and have begun the painful process (for me at least) of slowly unwinding our AT&T stake.
Energy Transfer (ET) is a similar company to Enterprise Products Partners (EPD), so we will eventually consolidate the cash on hand from the ET sale into more EPD.
We should have sold the Warner Bros. Discovery (WBD) shares when we received them, and that is a lesson learned.
If you receive spinoff shares and it doesn’t align with your investment strategy, it’s probably best to just dump them right off the hop.
Albertson’s (ACI) is now facing a blockage to the Kroger (KR) merger.
We initially bought Albertson’s years ago when they went public only because they own Jewel-Osco here in the Chicagoland area.
The only new position is Agree Realty (ADC) as they have the look and feel of a younger Realty Income (O).
You gotta check out their latest investor presentation!
The intention here is to use the monthly dividends from Realty Income (O), Main Street Capital (MAIN) and now Agree Realty (ADC) to buy a full share(s) of Agree every month.
Most of this was covered in the portfolio update video if you’d like to check that out.
All in all, we’re now down to 25 individual holdings after selling out of 5 completely.
Keep in mind this is not our entire investment portfolio, but what we feel comfortable sharing with the world.
Our projected annual dividend income (PADI) decreased by $108.56, but we have almost $6K of cash on hand, stubbornly waiting for a market correction.
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I’d love it if you would share with me your top stock bought or sold in February or this past week.
😁Special THANK YOU to the (4) people who responded to the last newsletter!!
That said, let’s get to the moves made this week. And remember, you can always check out the PORTFOLIOS, the PODCAST, or see what’s cooking on the YouTube channel.
Dividends Received This Week ~$0
Dividends Received Year to Date~
$1,109.74
Stocks Sold (AVERAGE)
Stocks Bought (AVERAGE)
- 2 Starbucks (SBUX) | $92.86
- 12 Agree Realty (ADC) | $55.43 (Last week was a mistake, we bought 2 shares of Agree Realty and not 12).
Notable Ex-Dividends This Week + SSD Score
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- 3/5 NVIDIA (NVDA), 0.02%🤣 | 89VS
- 3/6 Home Depot (HD), 2.34% | 87VS
- 3/7 Main St. Capital (MAIN), 6.34% | 62VS
- 3/7 Kimberly-Clark (KMB), 3.97% | 88VS
- 3/8 FedEx (FDX), 2.04% | 64S
- 3/8 eBay (EBAY), 2.25% | 70S
- 3/8 United Healthcare (UNH), 1.54% | 99VS
🎙️Podcasts You Should Check Out!🎙️
🤑 Hands down my favorite listen from the week! The Essays of Warren Buffett author Larry Cunningham was on The Compound and Friends to talk about Buffett, Munger, and solid investing insights. Highly recommended!
🎧 David Senra shared great wisdom from a book written by a man who trained both Michael Jordan and Kobe Bryant. This was just a very motivational episode of the Founders podcast.
Investing Newsletters You Might Like
⭐Ryne Williams writes a free weekly dividend newsletter and creates multiple top-notch YouTube videos every week. This is a community for dividend investors by dividend investors.
🤑Connor Von Ooyen used to build mobile games at Zynga, and became obsessed with the stock market, so he built an AI tool to scour the internet for the best stock market ideas and news and summarize straight to your inbox. Check out The Yellowbrick Road newsletter!
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Random music video I enjoy and you might too!
🎵Nim Vind – White Magic [David Bowie Cover of Magic Dance]🎵
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With that being said, have a WONDERFUL week and I’ll see you in the next one.
