Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I think I managed all the usual bad moves.
Bought land at the peak. – Sold at a loss.
Bought shares during the 70's mining boom here in Australia – Sold at a loss. Didn't go near shares for many years after that, partly because I didn't have any spare cash. What I did have spare was better invested in the local pub. Even had some asbestos stock for a while; now there's a mistake in hindsight.
Managed to repeat that, getting swept along with the crowd during last years tech rally/crash cycle, luckily for only a minimal loss this time, so it is possible to learn I guess.
Generally buying too high in a stock cycle and not selling when the indicators start going down, hoping for a reversal to get the money back seems to be a problem that's pretty common. If it's been going up for a while and you start thinking of buying in on the trend, it's probably too late and you'll hit (and miss) the peak. You have to have a profit target and a stop loss point and stick to them.
I think one problem many of us have is emotionally switching between being traders and investors, letting the stock drive us.
Retired fools should be investors first and if the mood suits, be a disciplined trader second.
Print the post  

Announcements

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.