Wallace Rivers: That was a nice pop in Royal Cruise.
For now, I'll continue to hold on to my shares.
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Reviewing my history of posts here on cruise ships, it looks like I added to my position in RCL when the company eliminated its dividend, and also when the stock dropped maybe on disappointing earnings news. In retrospect I made errors in selling out of CCL (Carnival) on similar disappointing news, and compounded it by never reentering CCL.
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Aside: When I review a stock that's behaved like RCL and see the results I get or got, it reinforces my view of how I might want to deal with positions I buy in other stocks. This is a very dangerous mindset: When somebody is pleased with the way an operation has worked out, that method gets reinforced mentally, and then gets repeated in subsequent plays. ("It's worked for me before, and so that's the way I do it next time or every other time.") But that method may be very suspect or dangerous or sub optimum. Anyway, note here, from RCL in particular, how at this point I might get some mental reinforcement to continue considering averaging down on losing positions.
With the stock now about $42/sh., here's the chronological buy history for RCL and purchase prices I paid, according to my brokerage account:
04/24/2008 $31.70
05/23/2008 $27.58
06/23/2008 $25.44
07/01/2008 $22.24
10/09/2008 $15.60
10/31/2008 $13.88
11/19/2008 $8.36
01/29/2009 $7.61
02/02/2009 $6.53
06/04/2010 $28.79 |
