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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (7318)7/30/1999 4:39:00 PM
From: Lars  Read Replies (1) of 15132
 
Justa,

>>>
Don: Yes, I remember that call. What a shame. I also remember a local radio financial advisor who was saying he was going out to buy more AOL at $160 and was recommending that listeners consider the same.
>>>
I don't know about the rest of the threaders but I am just starting to hear serious horror stories about people losing their @$$. I mean bad. I am hearing this from friends in Illinois and Wisconsin. The bad stories are starting to come out. Is anybody else hearing similar stories?

I don't hear the "yeah I made $400,000 in AOL" as much but I just heard a story here about a couple who had just over $1million in AOL when it was in 160s. I guess they didn't want to sell any of the position because of the taxes. Huh?? Yes, you heard me right.

The sad part is I know that would have been critical mass for them even after taxes. Now, you are seeing a textbook case of investor psychology. The pain of leaving the money on the table and the panic that it might visit some much lower prices. These crazy feelings and mind games all because someone was lucky enough to put $10,000 or $12,000 or whatever into a stock a few years back.

All of this coupled with the fact that, yes, they may have to work until their early sixties versus calling it quits in their early 50s.

I think the tide is starting to roll out.
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