Thread by @SnapLaugh

Coffee Can investing
How it started ?

Robert Kirby - American Investor

Late fifties,managed portfolio for a couple
Husband invested for himself & managed wife's portfolio as well
After Death of the husband
Wife called Kirby,showed him the stock certificates

Kirby was dumbfounded
Husband piggybacked all kirby's recos
Bought $5000 stock - both his & wife's portfolio
His portfolio bought and forgot
When kirby gave a sell call promptly sold his wife's holding
His own untouched
Kirby was shocked
Many holdings,sunk to $2000

Several exceeded $100,000
1 stock was $ 800,000 - that was a company Haloid photographic later named Xerox

Lesson kirby learnt - Investors shouldnt buy stocks hoping for the next Xerox
But portfolio of good stocks left alone,with negligible costs,outperform a constant churned 1

Kirby called it the coffee can
Common in old days to put valuables in a coffee can & stick it under the mattress
Kirby published a paper 1984
He wrote
'You can make more money being passively active than actively passive '

@MarcellusInvest
#coffeecan
@unseenvalue
@porinju

Unroll
@threadreaderapp