Kiawah Marathon Lessons for Investors – Bobcat Style

Last night, there were two friendly and playful bobcats in my dreams.  They have been on my mind, because tomorrow runners who complete the Kiawah full or half marathon will receive medals adorned with bobcats.  Last year, I was well prepared for the race and decided to start out at a blistering (for me) 8:30 minute mile for as long as I could, and then finish the last part at a slower pace.  You would think that after 50 or so 1/2 marathons I would know better.  After 8 miles of this ridiculous strategy, I not only had to slow my pace, but ended up having to walk several times during the last 5 miles.

Kiawah Bobcat

This year I will be patient.  Last December, I bought shares of Sapient in the Pawleys Growth Fund for my investors.  Through Halloween of this year, which happened to fall on a Friday, the total return for the position was exactly zero.  Not a good way to stay ahead of benchmark returns.   The underlying criteria I use, however, had not changed for the stock.  Thankfully I remained patient with the holding.  Over that weekend, news started swirling that there might be a French company seeking to purchase SAPE.  The announcement for the tender was released the following Monday, with a cash offer of $25/share, turning my 0% into a +44%.

Tomorrow I will be patient when I start the 13.1 miles on Kiawah Island.  It will make for a much more enjoyable day, and I will be much happier when I see the bobcats on the medals at the finish line.


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