*AV* REPLY TO STEVE SUSKO
My apologies Steve. I have had my share of losses and screw ups. I shared some of them on this thread in the course of some postings. I will gladly highlight the ones that are still stinging me, even after years.
DELL - 2000 share block that was bought high and sold at a stop loss during the infamous and alleged stock manipulation timeframe. Lawsuit is about to be settled. I lost between 12-20K and will more than likely recover $800 in damages. Had I not used the stop loss, I would still have that block of shares. Since that stop loss was executed the stock ran up dramatically, split, and has run up again. I figure a minumum of a 100 point loss for not getting back in. ($200,000)
Dell is still a core holding but less the 2000 shares I opted to divert elsewhere.
FPNX - still holding onto 1000 shares bought at $ 10 a share. Holding for a few years now. Market price today $ 0.50 ($9500)
SPCL - rode this roller coaster once too often but had sense to divert most of the previous profits. Bought 10,000 at ~ $2 and stock is delisted. Guess is $ 0.25 ($ 20,000)
CODERCARD - 1000 shares $3 per share. BANKRUPT years ago
TWA - Recent loss of close to $ 6000
AEIS - 10,000 shares at 7 sold for year end tax loss 96 at 5 3/8. Today close to 7.
DIMD - 4000 shares at $ 12 sold at $ 11 for 96 tax loss. Today at 14.
Lessons learned - if you have faith in a stock (DIMD/AEIS) do not sell for a tax loss, pay Uncle Sam the Capital Gains tax.
#2- Do not buy an airline company after it drops significantly after a fatal crash. It tends to go even lower.
#3 - Never trust a stock broker who starts the sentence with "Have I got a deal for you, it cannot lose". It usually does (Codercard)
#4 - Never tempt fate more than 4 times (SPCL)
#5 - Never beleive your brother when he says, "I got this hot stock tip that is expected to double your money" (FPNX)
#6 - So what if you suspect insiders are screwing around with the stock. they got their reasons and they will get caught and things will go back to the way they are supposed to be. (DELL)
Since I use the "you gotta know when to hold and when to fold", here are the times I folded only to regret it.
INTC at 90
WDC in 30s
CYMI ~ 30 was a nice place to go out
AMD - sell it will never go above 25
ASMLF - it will never see 45+ again
I leave early sometimes and it eats away at me. Sometimes "I have to know when to hold and when to fold". I do screw up. As a matter of fact, if I held onto the above stocks and a few others and not been too finicky, I would be a much happier and richer person.
Major screw ups were when I didn't have much to invest and was too eager and greedy. That is why I encourage taking profits even if "I coulda been a contender if...).
I am on a roll right now and have had minor ($1000) losses and major
gains recently. Some INTV was a push for me as well as all CCEE. These are non entities but the INTV did become QUIG today. The run in the semis will subside and I will become very conservative. But until then, give me another ticket for the roller coaster. |
