Saudi prince Alwaleed Bin Talal founded the Kingdom Holding Company and is considered one of the Arab region’s wealthiest men. He was an early buyer of Apple in 1997 when Oracle was eyeing it as a takeover target. He invested in Netscape when it was out of favour on Wall Street. AOL acquired Netscape, and the Prince’s shares surged to more than $500 million. He said at the time, “I was investing while others thought the market would crash.” And before the Great Recession, his 14.9% stake in Citigroup was at a much higher price than post-recession. Meanwhile his real estate holdings in India took a huge tumble. The Prince admitted at the time, “We’re getting hurt, but I’m a long-term investor.”
The lesson here: Hold while others sell. Take large market events out of the picture while collecting a dividend to wait.
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