It’s hard to classify a 500% return in 12 months as “slow and steady” but when compared to many other pump and dump, overnight sensations the performance of Structural Monitoring Systems (SMN) has been on cue and in keeping within our expectations.
There are a few very key reasons why I am not a long-term investor. Evidence. Pure and simple. There is little evidence of companies that have successfully emerged from small-caps into mid-caps and continued to grow into large-cap companies AND stay there. Taking a guess, in my experience, I would say 95% of companies fail at some point in their growth cycle and return back to where they started.
In recent weeks and months I have been discussing global markets as a whole from a macro level identifying the risks and opportunities that exist as the world enters the late stages of what has been one of the most untrusted and hated bull markets of our time. This week I wanted to return back to local soil and discuss the only stock we hold in our proprietary trading book long-term.