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No. of Recommendations: 6
Examples of selling that hurt! I inherited what's today both Norfolk Southern and CSX in 1975. To say the least the outcome of that has been special. Dad simply had to own the two railroads that ran through my town, he and his broker worked it out but my dan knew nothing about business. He himself inherited the local newspaper, he was the publisher and editor. Other family members were the business and ad people.

Along comes this Ward guy for CSX during the "coal goes from 35% of the company to zero" beginning and Ward gains the interest of Jim Cramer. CNBC, Cramer, and Ward do the "we are the best ever" dance and CSX goes through the roof. Coal crashes, CSX crashes and Cramer screams "sell". CSX goes to a flat line of 10 times earnings. This is not long ago.

Here comes the god of railroading, from the Canadian railroads to CSX named Hunter Harrison. CSX stock goes through the roof, to about 30 times earnings all based on running the efficiency ration through the floor. I am suspect.

Most often when I am in doubt, I do nothing. This time I "expertly" do portfolio management and sell about half my CSX...and the taxman do commeth...this based on my inheritance basis.

I bought a few stocks with the proceeds, and all have done ok. CSX? Both the business and the stock have done far better. Even with little sales growth CSX had gone nuts on the profits, superb outcome.

Fortunately I held on to all my Norfolk.

Selling...buying...in my life has been...overall (not every case of course) a terrible decison.
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