The One Killer Trade (w/ Raoul Pal & Hugh Hendry)
HUGH HENDRY: Last night, I did October 2003 and I was just saying there was the chart set up back then and this is what I started to do. We found this little company, Amsterdam Commodities. They weren't looking for investors. They didn't want investors. They were yielding 10% and he had an earnings yield of 14, so just pretty much all of the cash flow and they made markets in the most obscure little condiment type of commodities. If you looked at it, and you try to sell it, whatever thing, and I went on to say that maybe I just started in the coffee shops in Amsterdam getting high because I tell you that stock got high and 15 years later, on the look back, it's one of the rock 'n roll stocks in Europe, one of the best performing stocks ever. I posted a chart, it went from we were buying it at 80 euro cents, and it went to 15, 16, 17 euros. Anyway, so back then was the beginning. I never believe 2000-- well, I was going to say 2008, it's complicated, isn't it? Being early in coming in, yeah, I then exited those trades way too early.