When Google went IPO in 2004 I was insane enough to buy 1000 shares at $100. I put up $50k which was everything I had and the other 50 on margin and I got too scared and sold at something like $104. Next thing I know the thing is hitting $200 which got me sick, I quit stocks entirely, then one day I see it’s $600 then $700 then $800 then hit $1000. I was on a train a few months ago talking to a guy who worked in finance and told him what I did, and you know what he says to me? “Why do you sell? EVERYBODY knew it was going that high!”
When you’re young and dumb, the wife wants a sofa or the clothes dryer broke, the poorest choice get made. Now when the “When mamma ain’t happy, nobody is happy” effect takes hold, I settle for the unhappiness. It took me 25 years to stop making decisions to make other people happy.
I can see by your handle that you’d make a real good investment adviser.
NOT!
I got google at $500, just a few dozen shares. But, I rode that mule to the offshoot and sold out. As I watch GOOG now, it’s holding steady at about $500/share.
Oh, I put my gain in AAPL at the 7:1 split. Expect that to go to $200/share.
I earned my lumps coming up, taking lessons/advise from a retired broker who equated stocks with Vegas. They don’t make them fancy palaces because they like to make millionaires everyday. It’s a gamble, very similar to craps and roulette. The trick is to get out when a little ahead, or put your money back in your pocket and play with the house’s money.