I would now mention about some companies that I still hold and which form a significant percentage of my portfolio…one such firm which I started buying around 2014 is Pidilite Industries. The problem which I faced with this company was that it did not give me enough chance to accumulate and I had to buy it every time at significantly higher prices than my initial buy price.
My Big Pidilite Mistake
Around 2014-15, I got some lump sum as my variable pay and I thought to invest that in a basket of firms I already owned. Pidilite was one of them. I have a habit of buying in SIP manner with small tranches. Pidilite earned an amount of Rs 9000 (amount is indicative only). While placing order multiple things were going on and by mistake I placed one extra “0” in the amount and order was executed for Rs 90000 (amount is indicative only). I quickly realized my mistake. Pidilite stock was around Rs 400 then.
I had this unique hesitation of selling anything quickly so I didn’t feel like selling the extra amount I had bought. I thought that with the conviction I have here, I am confident that my invested money would do well, so I let it be…
In hindsight, now I think what was my big mistake - It was not adding that extra 0, It was not letting it be, but it was not adding as much 0 as I could if I had so much conviction and understanding that the business would do well!
Pidilite is one stock which I have purchased at levels from 300 to 1200 (although very small percentage at 1200).
And I am well aware, a decade from now, in hindsight, I would still feel why didn’t I add an extra 0 when I purchased it at 1200 as well!
Disc: Invested in Pidilite & biased. Forms approx 10% of my portfolio. Not a buy/sell recommendation. Above post only for academic purpose