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Is this how to post? How do I know where? I'm 85, retired & have been doing my own investing for some time. My first investment from Fool recommendation was Dell in early 1990s. Made lots & lost lots because I didn't want to pay all those taxes. Very stupid move; now I'll gladly pay any taxes due on a great windfall that I capture.
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No. of Recommendations: 5
You posted correctly, but I strongly advise against acting on financial advice from TMF or anyone posting on these boards. You can get ideas, but do your own research, because...well, you know the because part.
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My biggest winner on paper was Washington Mutual. It was a 35 bagger over my initial purchase price circa 1982.

Unfortunately, in 2008 it was a spectacular failure, and wound up being my all time biggest LOSER by the time I sold it!

Still, I didn't refuse to sell it because of taxes.

CEO Killinger led Washington Mutual to spectacular success during the S&L bailout of the late 1980s, and I was expecting him to do that again when the weak banks failed again.

Unfortunately, despite his experience with failing banks during the S&L bailouts, Killinger let Washington Mutual fail due to bad loan underwriting.


I still haven't heard a good explanation for why someone who did a terrific job managing the bank for decades, and who profited from the failures of so many other banks let his own bank fail like that in the end.


Seattle Pioneer
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No. of Recommendations: 7
That whole WAMU implosion was so strange.

Some point fingers at Chase Bank, who totally took them over. I donno ..
but I dislike Chase anyway for their shady activities.

I stayed with them for years after they bagged WAMU, but recently pulled
all of my money from them and closed out completely. Now, they're trying
to charge me high fees for "closing accounts" -- an account closing charge!
I told them to drop the fee .. they responded that they "are not able to
do that".

Now I will tell anyone that I ever become aware of as having money tied up
in Chase Bank to clear out asap.
They are criminally insane.
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No. of Recommendations: 1
"Is this how to post? How do I know where? I'm 85, retired & have been doing my own investing for some time. My first investment from Fool recommendation was Dell in early 1990s. Made lots & lost lots because I didn't want to pay all those taxes. Very stupid move; now I'll gladly pay any taxes due on a great windfall that I capture. "


It's always good to 'capture' some of your gains by selling part of your earnings. WHen you've made a killing....don't be the one that is killed later when the stock has a hiccup.



t.
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<<It's always good to 'capture' some of your gains by selling part of your earnings. WHen you've made a killing....don't be the one that is killed later when the stock has a hiccup.


>>



<<Oh mother tell your children
Not to do what I have done
Spend your lives in sin and misery
In the House of the Rising Sun>>



While overweighted in Washington Mutual stock, disaster was prevented by a goodly amount of another investing virtue ---diversification.



Seattle Pioneer
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No. of Recommendations: 3
WAMU was my single largest loss in my 30+ years of investing in the stock market! Unfortunately, I just dug in my heels rather than cut my losses. I just could not believe the Feds would let the largest S&L in the country fail.

I learned a valuable lesson - the hard way. ALWAYS do your own due diligence and always have an exit strategy.

Rich
Arizona
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