In my own PA, I have watched shares of GNC Holdings, Inc. (GNC) move from a 30% unrealized high watermark gain on July 28th to a present day 30% unrealized loss of 30%, as of November 15th. Throughout that time period, I have aimed to remain even keel and I would argue, and my premium subscribers can attest, I am not losing any sleep over GNC. That said, despite having a little too much fun casting lighthearted dispersion towards our furious and lovable fictional Masters of the Universe, the high adventures investing odyssey is still out to sea. It's premature to alert the Coast Guard. If you experience sea sickness, the poker table may be a better visual imagery. From my vantage point, Kenny Rogers is still pouring that proverbial whiskey, the smoke filled room is abloom, and there are many more hands to be dealt. I have only glanced at my chip stack, but it is too early to grow concerned and count. And if you don't mind me saying, I assure you I'm not out of aces.
Just today, and per Bloomberg, we learned that a rock star and Master of the Universe in his own right, John Griffin, of Blue Ridge Capital has joined our long GNC parade. Now this isn't a full Mardi Gras day ensemble, not yet. But Mr. Griffin's firm did acquire a modest 2,414,000 shares during Q3 2017. I use the word "modest," as his shop runs a nifty $5.5 billion.
