🎙️IC #8 Lessons From The Past

Research: www.cedargroveresearch.com Reflecting on 2025: Key Investment Lessons and MistakesIn the eighth episode of The Investors Corner, Paul Cerro, Chief Investment Officer of Cedar Grove Capital Management, takes a reflective look back at 2025, discussing key investment lessons and mistakes he encountered throughout the year. Departing from his usual format, Paul dives into an in-depth analysis of three specific investment experiences: a complicated short position with Hims and Hers Health (HIMS), a problematic long position with Gen Restaurant Group (GENK), and the importance of understanding market irrationality via solid fundamentals through investments in Liquidia (LQDA) and The RealReal (REAL). He emphasizes the importance of learning from past mistakes to avoid them in the future and shares insights on market dynamics, investor psychology, and the impact of external factors on investment decisions. The episode concludes with a call for feedback on the content format and a hopeful note for the upcoming year.00:00 Introduction and Episode Overview00:30 Reflecting on Investment Mistakes03:21 Disclaimer and Educational Purpose03:51 Case Study: Hims and Hers Health (HIMS)05:01 The Short Position and Market Dynamics08:40 Challenges and Market Reactions27:00 Lessons Learned from the Trade35:11 Learning from Mistakes and Tightening Risk Controls35:26 Optimism and Challenges with Gen Restaurant Group (GENK)40:53 Management Issues and Trust Breakdown44:38 Final Decision and Lessons Learned51:02 Volatility and Doubling Down on Conviction52:00 Success Stories: Liquidia and The RealReal01:03:05 Concluding Thoughts and Future Outlook