fellas, fellas, fellas, can't we all just get along?Fellas fellas fellas - can't we all just get along? Long term value or business focused investing and trading are both legitimate investment pursuits. Each has its own rewards and risks and realities. Personally I participate in both (including short selling) in a kind of barbell approach and both practises have provided me with value. Practitioners of one can learn valuable lessons from the other. You can get as much value from reading "Reminiscences of a Stock Operator" as you can from reaing the original Buffett Partnership annual letters.
In the case of Air Canada I trade it from both the long and the short side when I have a strong view of where I think the share price might go. I was very active here starting in January of 2020 but less so in 2021 as I have found greener trading pastures. This works for me. As I have explained previously I do not believe the airline industry is one to which I would allocate long term investment dollars. For my liking, it is simply prone to to many shocks. However, I respect the fact that others have a different point of view. Where I am a long term investor in securities I'm not particularly fussed by drawn downs, and I see those as opportunities to add. Where I am a trader in securities and I am long, I see drawn downs as my having got things wrong, and I look to contain my losses (and maximize my profits).
All is well.