Owen Rascovitch

Really good long-term future.

It's profitable, all that sort of stuff.

And I ended up selling shares about 18 months later for, I think it would have been like 54 cents.

So it would have been a bugger all gain, right?

Because I was just impatient.

And then fast forward to now and it is trading over $3 a share.

So my lesson here is that one, if you make an investment, you've got to be very patient.

That's the obvious one.

The other one is that don't let the share price tell you what to do with your money.

That's not a performance, an indicator of how well you're doing with your investment.

But the biggest thing from this...

from this action is that I worked it out that all of the investments that I made, of all the bad things that I bought and that I've watched fall, just one of my ones that I should have held on to would have outweighed all of my losers.

So if you think about that and you think about the share market, you can make 100% loss.

That's all you can make as long as you're not using loans or anything weird.

Yeah.

But you can make much more than 100%.

You hear stories of companies going up 500,000, 600,000%, whatever.

And the moral of this story is that if you find something, like an investment and you want to hold on to it, oftentimes it's much better to hold on to it than it is to sell.

So my biggest mistake was actually selling businesses or shares of businesses that were actually exceptional and I got out way too early.

So that's kind of a weird take on an investing mistake, but I think it's a really good one to remember this.