Curious if any of you guys are able to ride large initial positions to 10 bagger type gains?
I recall one person here riding one or two small (??) positions to huge dollar gains in the Chinese internet stock heyday. I don't recall anybody here though ever saying they were establishing a large $$ position a stock and then later reporting they rode most of those shares to ten-fold gains.
I was just wondering if I would ever know enough about something to make a big bet on it, watch it rise, have the confidence to see it continue, and hold the bulk of my shares to achieve a ten-bagger. At some point, I'd get nervous or I would convince myself (or my wife would tell me) that prudence would dictate reducing the position, or I'd see myself wanting to rebalance the portfolio, or otherwise get out while the gettin' was good.
I believe the only reason I've ever got ten baggers is because my position is small and I can emotionally and psychologically afford to deal with the stock's rise with a kind of benign neglect. On the one hand, the result is that I'm not at all making enormous profits in an absolute dollar sense - so I'm not totally benefiting from the climb. I wind up with small dollars, not a life-changing amount. OTOH, at least I am in the stock for the ride with something.
Selling most of my few shares of ARS today @$52+/sh, after buyout offer. In, and posted here, 6/'03; @$5.50/sh.
For balance with this stock, I add: I have been wrong many,many times, and I have lot of losing stocks which confirm it. |
