I manage my brother's and my own portfolio.I bought Visa at $110 for the two of us. When it was at $125-130 I called it quits for my latest best and brightest investment idea. Boy that was dumb. I made my brother continue to hold it and boy is he sitting pretty. Sometimes I feel like I give him better advice than I give myself.I bought DDD on its rapid plummet at $33 for my brother and I. Sold it for $40-41.I bought and BAC at $6.50 and resold it once it returned to $6.50.So many future profits missed!I bought JVA on October 14th 2011. I bought at the top of a dead cat bounce on the recommendation of a CNBC article. I held for a 30% loss before I concluded that it was a bad position.Bottom line lessons? Have confidence in the long term profitability of the companies YOU believe in. Ignore the volatility noise all around you and the constant garbage recommendations by someone who NEEDS to get a story in within the next hour to get paid.
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