Actually, I don't remember a fourth (and fifth) position that did not pan out. LSCP was up to 5 positions, all except the original (which was a discount to the last sale) panned out, and even that one is now in the black. It is rare that a loss is more than 10%, HAUP last sets of buys qualify, but once more these were buy after taking deep discounts to last "sale". Of course, the last two years were a secular bull, so the situation may and will change when the secular bear resumes, as I expect, next year.
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