Starbucks
We purchased Starbucks back in August of 2007 at $24.42 per share. At the time SBUX had dropped 30% of its price over the previous 18 months. After a long run up during the early to middle 2000s we saw this drop as a correction. We thought that a 30% was a little excessive and that once SBUX hits a bottom a more stable stock will emerge that will continue its growth at a more realistic and steady pace. Unfortunately SBUX did not hit its bottom in August 2007. In fact, SBUX continued to drop another 30%+ to as low as $16. SBUX has since rested around $18 not knowing which way to go next. This has been one of Ben Hur’s worst performing stocks but it has provided us with good experience. We still believe in Starbucks in the long run and will continue to hold it in our portfolio.