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Making a bad investment is more common than you might think, even among big investors. The story I'm telling you today is once again about Bill Luckman, this great American billionaire investor who in 2022 thought about buying Netflix shares after the collapse of Netflix had begun in January. Bill Hackman decides to get in, but after a few months, even more negative news about Netflix comes along, and then in April, Bill Luckman decides to sell, with a huge loss, we're talking about a loss of 400 million dollars, but what's even more surprising is that in addition to the loss of 400 million suffered, Bill Luckman missed out on a notable rise in the value of Netflix itself, which a few months later practically rose to the price it is at today, which is practically close to $1,000, so the total lost, let's say by Bill Hackman, is around 2 billion dollars, between the actual money lost and the missed profit he would have had if he had stayed in the position.
This is to say that anyone who thinks that timing on investments is a good idea. markets is the best thing you can do, eh This example shows how difficult timing is even for the best investors, patience, wanting to stay in a position for a long time, very often pays off, clearly not always because companies can also fail.
But in the case of Netflix, here are some negative news that shouldn't scare you, yet in that case they scared Bagman who decided to exit the position. But I would say to go to the screen, read this news carefully, which has been widely publicized over the last few years, and look carefully at the charts for this operation.
The news has been widely spread and it is basically an episode that dates back to 2022 in which Bill Hackman loses 1.6 billion dollars by selling Netflix shares early, but let's see how Qua says that basically selling Netflix shares was early. It was one of his biggest mistakes, okay, then it reminds us of Chipotle, Max and Green, his main successes, but going back to the Netflix issue, we see that Persian Square spent around 1.1 billion dollars to acquire 3.1 million Netflix shares from January 21 to 26, 2022, eh On April 22, shares plunged to lows for the first time.
The company reported a net loss in subscriber numbers in its Q1 2022 earnings conference call. It totaled 200,000 users and announced plans to introduce an advertising-supported tier and crack down on password sharing. That announcement did not please Adman. He sold his entire stake on April 20, 2022.
Let's take a closer look at exactly how much Pershing and Ackman lost with the early exit, including the gains they could have reaped. So, not only did he sell at a loss on his invested capital, but we must also calculate all the money he could have earned if he had held the position until today and instead did not earn.
The actual loss accumulated by Ackman is well known and widely publicized at around $400 million. However, the billionaire investor who attributed his sale to uncertainty about Netflix's long-term prospects also lost a rather considerable sum by selling early at the time of Pershing's initial investment.
Netflix shares were trading at a price of 383.69 today practically Okay almost today January 23, 2025 just a few days ago Netflix shares were trading at a price of $55 eh And here Practically it makes us understand how Hackman practically sold almost at the lows in a surprising stroke of bad luck Hackman sold the shares right above the the D of the finbal logo which is the site that reports this news to us in the chart above if Pershing Square had maintained its stake the original investment of 1.1 billion dollars would now be worth about 2.74 billion dollars in absolute terms Hackman and Pershing have lost about 1.64 billion dollars in profits and now let's go with the chart on Appunto su investing to see well precisely How eh eh the timing eh eh It is impossible even for good investors You see here we are practically in January 2022 and Hackman enters by enters practically believing that this decline this large candle made eh by eh by Netflix is in fact an excellent opportunity to take it eh take it at lower prices but Eh Here's what's happening basically What happens is that after a few months it basically continues to fall The news comes out that I talked about before that scares eh acman who prefers to exit with eh 400 million dollars of loss and hman comes out here basically you see almost at the bottom Eh because then what will Netflix do?
It will continue to fall a little more and then and then Look what it did eh Look today Where is 97 9 eh 986 has touched 9 and almost 1000 eh almost 1000 so this is to say that timing the markets is not easy even for the great investors like Bill Hackman making mistakes is for everyone We can all make mistakes and the increasingly difficult thing to do in the world of investments is to stay still inactivity is the key to success Because many will say that Netflix could have failed but it must be said that these large companies these large companies rarely fail and therefore even when the price reaches very low you have to have the patience to wait for the recovery which when it comes it comes you see like a rocket, it arrives suddenly and is violent.
Look at the climb it has made, so where from having Empty if we go to measure where it has sold Hman up to today. Look here, eh 300 350 for Eh so staying still having patience remains the most important thing for a good investor. On the other hand, one of the best investors that are currently, Monich Pai, often repeats that investing consists of seeing yourself in a room after having painted the walls, drying and waiting for the paint to dry, so this is the task of an investor after having chosen the securities and after having endured the vicissitudes of prices and therefore of the market, the swings of these securities, precisely knowing how to wait for better times to come.
I don't know if you knew about this terrible story that happened to Bachman. Thank you for having come this far, leave a like if you are interested in the video and we'll see you for future content.
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