Skip to main content
No. of Recommendations: 0
I mean Should have listened to Anurag

Yes I quite agree. I'm still following NOK, but,
yes but, I have to admit I'm out of NOK as of right now.

I bought in two lots. First on 4/30/12 at $3.63 then on 5/24/12 at $2.73
Trying to catch a falling knife as they say.
Sold the first lot on 5/31/12 at $2.69 for a loss. Hmpf! I'll be able to write off on my taxes next year.

Why sell? I was starting to lose confidence in NOK and JPM has been on my radar and I always wanted to buy if the price was right. After that plunge, I had a little extra cash and also used the proceeds from the NOK sale to buy a position in JPM.

I was still holding on to my 2nd lot of NOK because, hey you never know. Then a recent IPO caught my attention; The Carlyle Group (NASDAQ:CG)
IPO'd in May. An alternative asset investment group. I'm still trying to get my head around them, but the way they're structured with the compensation of the management of each of their funds is very shareholder friendly, I should say Unitholder as it's a limited partnership. I am gonna request a board for them if one hasn't been already to elaborate further on.

Anyway, since I wanted to take a chance on CG, I was able to scrape up a little more cash and I pooled it with my sale of my 2nd lot of NOK on 6/13/12 at $2.80 for a small gain. Incidently that particular lot was beating the S&P at that time at about 2.9%

My investment in JPM I believe was that I had to strike while the iron was hot. They're definately going through a rough patch but I'm taking the chance that they're way undervalued and the price will recover before the year is out.
My investment in CG I believe has the potential to turn out to be a beautiful partnership as a unitholder.

All that said, NOK is still on my short list to reinvest in again. This bit of quick trading is not what I usually do. I always buy with the intention of holding for at least a year or more. NOK was the exception for me. As of right now I'm more comfortable watching from the outside. On another note it's getting close to the expiration of my current mobilephone plan and I'm thinking of getting the Nokia Lumia on my next plan.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.