Investing boils down to conviction.
If you know what you are doing, you won’t be scared of the naysayers. In 2021 there were dedicated meme accounts on Twitter who frequently used to troll ITC. Though, we used to enjoy the memes & held on to ITC share because we knew the value of the business.
If you don’t know what you are doing, then you’d get scared. Any negative remarks & you’d jump off the ship. And that’s what many ITC investors did between 200-300. Reason? Lack of conviction.
We bought ITC at extreme pessimism sentiments. Almost everyone was bearish on it. The stock was consolidating for over 7 years. The reason for buying? We knew what we were doing.
For me, ITC still commands the largest allocation of my portfolio.
It’s a great business. Strong Moats. Strong product profile. Lucrative dividends. High growth potential.
The memers made memes and trolled ITC investors saying government should replace ₹200 notes with ITC shares or ITC is a dividend play only equivalent to bank Fds without capital appreciation, etc, etc.
Eventually we, ITC investors, had the last laugh.
I’ll continue holding all my ITC shares even after this multibagger rally.
Patience pays well in stock market & life.
Cheers to all those who bought ITC on my advice. You’ve proved your mettle of holding with patience & tolerance. An achievement few investors achieve.
