Getting it wrong on RNY

I read an interesting article in the Fin earlier in the week about professional investors worst mistakes. There were some great insights into what can go wrong. And all highlighted the benefits of recognising your mistakes early. Most fascinating to me, though, was that the worst mistakes seemed to be losses of 25% or so. Perhaps it is our style of investing - we tend to make multiples of our investment when things work out - but the skeletons in my closet are much worse than that! Just one example should suffice. Property trust RNY has fallen by roughly 2/3 in the past 12 months, and it was our largest holding this time last year. In this video we discuss what has gone wrong and why we didn't sell it after originally tripling our money.