I was browsing through the Livewire Markets website and I came across an interesting interview with Ben Griffiths of Eley Griffiths. He's introduced as one of Australia's most experienced small cap investors, and the whole interview is really worth a watch/listen, particularly for those that are share market newbies (I still consider myself a newbie after 4 years or so of active investing).
About 8 minutes in, Ben shares his one of his biggest regrets: selling off his holding in Discovery Petroleum.
I've attached the YouTube link, which should begin at 9:30. It's worth a watch, because the parallels between Discovery and SXY are uncanny: they're both O&G plays with sound fundamentals such as management, reserves, exploration upside, offtake agreements and so on. However, just like SXY, Discovery was range bound for quite a long time and Ben simply got bored waiting for something to happen. Several weeks after Ben offloaded his firm's stake in Discovery (which was around 6% of Discovery's market cap at the time), a large multinational oiler made an offer for Discovery that put a rocket up the SP virtually overnight.
The rest of the video is also really good (around 26 minutes in total), but I figured a few holders might find this either inspiring or amusing.
