To Lane and Judy,
Been there, done that....
Looking at my actions, or should I say, lack of actions, I am now stupefied with fear and self-doubt. I had huge profits that I allowed to dwindle away because I knew the market would reverse, a split announcement would cause a run up in price, the earnings report would do the same, etc. None of which occurred. But each morning, I would read messages on many sites that told me to hold on for several reasons. And each morning, I would print my stock charts that were screaming "sell" and I refused to admit that the party was over. You can't be more arrogant or stupid than that.
Yesterday, I reread my first investment book, "How To Make Money In Stocks" by Wm. O'Neil. It's all in there...the common mistakes, the strategies, the necessary discipline to make money. If I don't learn from this experience, then I really should turn the computer off and put my money in mutuals. Arrogance, ego and the refusal to admit I made a mistake has certainly made me reevaluate my investment skills.
Take care,
mrc |
