I bought Polymetal International $POLY.L a few years ago betting on higher Gold prices $GOLD . Gold prices are higher but Polymetal stock is down since it is a Russian stock. I'm down over 80% on the position. There are so many uncertainties in Russia and it may take years for me to break even. The fundamentals in Russia have changed. It is better for me to sell.
As for DouYu $DOYU , I bought it for the arbitrage and I made the mistake of holding it when it got expensive. Now it crashed along with other Chinese stocks. I am now investing in Alibaba $BABA . Instead of me holding DouYu, waiting for it to recover, it is better for me to focus on Alibaba. It is all about opportunity cost.
I'm selling Qudian as I have lost faith in the management. Last time, when they started Wanlimu Kids, I said that I'm giving them a last chance. They just ended Wanlimu Kids in less than a year.
As an investor, you're going to make mistakes. What's important is that you do the right thing afterward. I'm not going to sell Qudian and DouYu immediately but will gradually sell over the next few months.
Watch full video on YouTube:
https://www.youtube.com/watch?v=zbb4agJnTPM&list=UUPO3uUyoXSaFWG-Ldq1mqEQ