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Author: richsimpson Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3812  
Subject: Re: Selling is always dumbest Date: 3/14/2006 4:56 PM
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I feel the same way about selling too early as well. I can sight several examples where I was in perfect position to reap the benefits of timely purchases of stocks (in some cases I still made money, but could have had so much more like with Owens Corning in the winter of 2003 when it was at 7 cents and proceeded to go up to over 5 in a two year period). Most recently for example I bought Ceredyne (CRDN) at 18.80 and sold at 21 after it had a bad day and fell (I panicked). The next day it exploded and, get this, I chased it and bought it again at 25. I then sold it at 32 after it got stuck there for a while. It has proceeded to go up to the 50's since. What a moron I was. I paid short term capital gains taxes as well. All I had to do was hold until May 2006 and then sell most of my position to get a huge gain at long term cap gain rates. Now I have no shares. Uggg...I think there will be another buying opportunity and ceramics are an interesting play for the future, but I wish I still owned some with a purchase price of 18.80.

This was actually a defining moment for me because I should never buy so much in a company's stock if I'm not willing to stomach a drop in price (something the Fool teaches on a consistent basis). Diversification is the key and I think I have finally learned...

The key is buy and hold, hold, hold and to learn from these painful mistakes and try not to repeat them.
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