Kachina,
I disagree. The worst decisions are when the unknowledgable are also utterly clueless and in this scenario, I plead guilty to both.
I bought the Y2Ker in question at its all time high and road that horse almost into the graveyard, leading a few other dead dogs, along with me. These were flyers I took, admittedly after reading some of the hype, but the decisions were still mine. I am unhappy? yes. Is it a disaster? no. I've been around long enough to know the difference between investment money and gambling money.... this was gambling pure and simple. Am I penniless as a result? No. The investment portfolio has tripled in less than 5 years - what a gift! (there was no talent involved).
I visited a friend of my parents at the nursing home and he reminisced about his first investment - Consumers Power which he road all the way up to $650 when he sold it and bought a strong recommendation of Dad's. He bailed out at $55, still remained friends, but vowed never to take any more one shot, sure fire deals and to spread his $55 around a little. He actually bought shares in 3 companies with that. Today he is worth well over a million.. maybe more and never made more than $15,000 a year in his working life.
A little smarts and common sense can go a long way. I enjoy and appreciate your comments on SI
j
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