Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: - with a K who wrote (18345)	1/4/2004 1:31:48 PM
From: - with a K	Read Replies (2) \| Respond to of 78497

Thread, how did you do in 2003? What was your best or worst move? Regrets? Lessons learned? Confessions and sharing are good for the soul and helps one learn, I believe, and I'm not even Catholic! ;>) I'll go first. I did 42% last year, and although others at SI smoked that return, I am very happy with it. Moreover, I feel like I'm making smarter investments. My best gain, and one that I am quite proud of, was PRX, a beaten up generic drug company that had a good pipeline, patents, business wins, and a growth story when I found it in the spring of 2002. Sold my last lot two months ago for a 214% gain. Another good pick last year was TVIN in July, picked up somewhere on SI (Dale?). Sold most of my position for a 145% gain after it started to fall and I got spooked after it had run so far so fast. I'm trying to learn to limit my losses; unlike earlier years, my worst sale in 2003 was BRCD (-14%) which I bought for a trade and held an unusually short time (for me). Of course, there is one position remaining that I stubbornly hold on that is significantly under water! (IIH, down so far that it's hardly worth selling.) Finally, I think the biggest lesson (one that must be a hold-over from the bubble) is trying not to get spooked or impatient and sell too soon. One regret in 2003 had to do with stocks I had bought a few years ago and rode down and waited and waited and then finally gave up on, the who's who of the bull salad days: AOL, SNDK, CSCO, AMAT. Similarly, I realize my tendency not to buy more of a stock that has disappointed me, like a jilted lover, when the fundamentals are actually starting to improve. Another regret has to do with selling strong stocks too early, sometimes based on anxiety over a falling chart or a desire to lock in profits or some temporary negative news: DHB, MRGE, TOL, selling PRX at $53 and $64 on its way to $75. Also, I'm learning to trust my analysis when the market seems to think otherwise. I need to take bigger stakes in stocks I've researched thoroughly and believe in, or add to positions after a pull-back. Recent examples under 4% of my portfolio: WRLD, IDR, TYC. CD last year.