This is my first post on this board, but there is a good reason for it. A couple days ago, I sold my absolute worst investment. You see, I am an American who lives and works in Brazil. I have a finance degree and very soon after graduating in 1990, I started investing in 1992 but soon figured out that most mutual funds under perform the market. So, I graduated myself from mutual funds to stocks, the first week of 1995. I thought "Hey, I can do this". Well, I figure some good stocks to buy and hold. But, in Brazil, I run across this Canadian. And he starts telling me about this awesome goldmining stock that sells on the Vancouver stock exchange. The headquarters are in his home town. I mean, it was going to be big, real big. He kept telling me how he knew people on the board of directors, how good people were behind the company, etc. Well, I bought Calais Resources about three years ago. I mean, I bought $13,000 worth!! And two days ago I sold all 1200 shares for $301.44. Ouch!!The good news is that I still have money to invest and inspite of that major mistake, I am still beating the Dow and S&P over the last five years. The guy who recommend the stock to me lost his shirt, I mean he had invested everything in that one stock. I have learned not to accept tips, no matter how great they sound. Heck, I rarely read financial magazines even. The moral of the story..."Don't accept tips on Candian stocks while in Brazil."
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