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Your best and worst stock purchases
Posted by Gray12 on 7/21/19 at 1:02 pm02
What were some of your best stock purchases and your worst ones and when? Trying to learn more from the OT baws
re: Your best and worst stock purchasesPosted by BayouBengal on 7/21/19 at 1:09 pm to Gray12
Buying Enron in 1994 and Selling in August 2000.
re: Your best and worst stock purchasesPosted by rowbear1922 on 7/21/19 at 1:16 pm to Gray12
Worst: LVVV (by far. Thanks a lot Tigerrrdad)
re: Your best and worst stock purchasesPosted by TorchtheFlyingTiger on 7/21/19 at 2:44 pm to Gray12
Worst was MGM bought in 08 for $55 and it bottomed at less than $2. I'm still down 48% after senselessly holding it for 11 years. Learned an early lesson that I don't have time, dedication or expertise to pick individual stocks despite beating the market with my first couple of purchases. I didn't take the gains on those early wins and most have had average or below long term performance. Now I stick to index funds.
This post was edited on 7/21 at 3:25 pm
re: Your best and worst stock purchasesPosted by TorchtheFlyingTiger on 7/21/19 at 3:17 pm to Gray12
Best is Boeing up 462% since 08.
re: Your best and worst stock purchasesPosted by FriscoTiger on 7/21/19 at 7:00 pm to C
Worst - Worldcom
Best - Home Depot
Best - Home Depot
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quote:The worst was a company called Entremed.
What were some of your best stock purchases and your worst ones and when? Trying to learn more from the OT baws
Interesting story. Entremed was a Pharma startup. In the late-1990's, during the dotcom boom, the company announced it was trialing a drug which would selectively attack metastatic vascular endothelium. In laymen's terms, it would cutoff blood flow to cancerous tumors, selectively killing them.
I came home from a very long call night, turned on the CNBC morning show and Mark Haines, Kernan, and Faber were all discussing a breaking NewYorkTimes story. According to the Times, conversations had leaked from the previous evening that James Watson (Nobel prize winner for DNA discovery) had access to Entremed's trial studies. Watson supposedly told a dinner group Entremed was owner of the biggest medical breakthrough since the Salk Vaccine.
Essentially it was the cure to cancer!
Now I had followed Watson through the years. He is brilliant! He is as straight a shooter as they come. He is prone to understatement. If this man said the drug was a godsend, it was.
We were sitting on about 15% cash, and I asked Ms NC, who handled our investments at time, to move all 15% to Entremed.
By the time markets opened, I'd crashed. Woke up late that afternoon, and to my chagrin she'd chased the thing with incremental limit orders all day and only picked up a small position. The stock opened on fire and tripled in a day to something like $50+/share.
I'd have bought there, but at that time we didn't have afterhours access. IIRC, that evening Watson publicly denounced the story as a complete fabrication. He'd never made the statement.
Someone had obviously gamed the market.
Wasn't even investigated as far as I know. Unbelievable. Entremed dropped like a rock. Trails were unimpressive. We lost a couple of thousand bucks, but it could have been much worse. Within a couple of years the thing was a penny stock. MsNC still gives me a hard time about it.
Best purchase? Probably a nice position in AAPL in 2009, both because of the size and ROI.
This post was edited on 7/23 at 7:34 am
re: Your best and worst stock purchasesPosted by KamaCausey_LSU on 7/21/19 at 9:38 pm to Gray12
Best: AMD and NVidia about two years ago. Sold the NVDA at about $215.
Worst: Learning about options and gambling away about a grand.
Worst: Learning about options and gambling away about a grand.
This post was edited on 7/21 at 9:42 pm
white perch
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the bright, happy side of hell
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Northwestern St. Fan
the bright, happy side of hell
Member since Apr 2012
7099 posts
Online
re: Your best and worst stock purchasesPosted by white perch on 7/22/19 at 8:37 am to CE Tiger
Best UGAZ
Worst UGAZ
Worst UGAZ
re: Your best and worst stock purchasesPosted by Jag_Warrior on 7/22/19 at 5:03 pm to KamaCausey_LSU
quote:
Worst: Learning about options and gambling away about a grand.
I’m guessing that you got caught by some site that preached buying options? Yeah, that is gambling. About the only way I’ve found to be profitable when going long options is to day trade them, and even that’s extremely hit or miss. Plus it’s very time consuming and stressful. But you can definitely make consistent, above-market returns with options.
Revisit the options world, lose your emotions, sell high probability positions and get used to making money. But it’s not something you can “give it a whirl” for a few weeks or even months. The more mechanical you are, the more successful you will be long term.
re: Your best and worst stock purchasesPosted by Jag_Warrior on 7/22/19 at 5:15 pm to Gray12
No offense, but you won’t really learn anything from reading about what stocks people made or lost money on.
First thing you need to know (about yourself) is do you want to be a trader or an investor... or both? Figure out your short term (trading) goals and your long term (investing) goals. Develop some rules for both approaches. And it doesn’t matter who it is, or whether they made money or not, if a person can’t tell you why they bought and why they sold, just be nice to them, nod and keep walking. Until I developed a methodology, I was just flipping pasta at the wall, hoping that something stuck.
I’d suggest checking out Investors Business Daily. It’s a good resource and you can learn a lot about position sizing, as well as entry and exit strategies, among other things. And there are plenty of other free or low cost investment resources besides that one.
Good luck.
First thing you need to know (about yourself) is do you want to be a trader or an investor... or both? Figure out your short term (trading) goals and your long term (investing) goals. Develop some rules for both approaches. And it doesn’t matter who it is, or whether they made money or not, if a person can’t tell you why they bought and why they sold, just be nice to them, nod and keep walking. Until I developed a methodology, I was just flipping pasta at the wall, hoping that something stuck.
I’d suggest checking out Investors Business Daily. It’s a good resource and you can learn a lot about position sizing, as well as entry and exit strategies, among other things. And there are plenty of other free or low cost investment resources besides that one.
Good luck.
re: Your best and worst stock purchasesPosted by saderade on 7/22/19 at 7:06 pm to Jag_Warrior
Best: Visa
Worst: MNKD
Worst: MNKD
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