tekboy,
Great story about your investment banker.
I must make one remark about "loving" a stock. It's totally inappropriate and dangerous to love a stock, no matter how good it is to you. It is perfectly appropriate to become intimate with a stock, to know its quirks, its frailties, its strenghts. But don't fall in love with it, because then you are going to give back to it and forgive it. No, no, no! You will associate your own sense of self with it. You will consider it a part of your life. No! No! No!
Buying a stock is a way to make money. Period.
Save you love for your spouse, your children, your parents, and your pets. They need it; they want it; and you should expect nothing in return. (You will get plenty in return, but you can't spend it.)
A few months back I had a similar discussion with some dear friends. They "love" their house. They "love" the building that they own and run their business from. The result is that they are limited in their choices of options in life. They can't sell their house--wouldn't consider it, because they "love" it. So their sits $500K in equity costing several thousand $'s in taxes, and they no longer need that house. Their business is floundering, mostly because of the expense of keeping a building that they "love" but don't need. They could run that business in 20% of the space that they have. So there is another $300K in equity that is costing plenty to keep.
Save your love for warm blooded animals that can return it. |
