Posted on 04/30/2016 8:35:37 AM PDT by BenLurkin
Apple is another one I invested in, Amazon as well which I of course sold early. Probably the best advice I ever got when it comes to investing in stocks like that is “invest only what you are willing to lose and never ever sell at a loss” Unless you have that kind of mentality, you will never ever ever hold on to it long enough to make any kind of real money. Every stock always goes higher than what you paid for it if you wait long enough unless it’s some penny crap. I just wish I was a little insane back then and held because God almighty, the kind of money I could have made would have been absolutely unreal but man oh man, when I had all my money in Google, I thought I was going to have a heart attack watching it because as you know, stocks can drop 10 points in the blink of an eye and for me that would have meant $10,000 bucks gone. Plus it was a freakin website, I was saying to myself “What the hell am I doing investing $100k into a website” Of course now it’s the richest corporation in the world *sigh* Facebook is one I wish I invested in. When that dropped into the 20s I absolutely knew it would rise again, now it’s trading at 117, massive profit.
Got it. I read that wrong.
But still...how were you to know? Better safe than sorry.
The mark of the beast.
Maybe you and I need to write a book on how to become millionaires in the stock market by doing the exact OPPOSITE of what we do :-).
I remember seeing Facebook scraping the 20s myself and wondered why I wasn’t buying up shares that that point. I could have risked about $25K w/o any problems yet I just sat there and did nothing knowing damn well Facebook wasn’t going bankrupt :-).
Still, it’s not worth beating yourself up over what might have been. You could have easily seen $100K evaporate too. Hind sight is always 20/20 :-). It is so, so, so easy to look at what has happened. It’s a totally different animal to predict what will happen AND place a bet on that :-).
What I do is tell myself that had I bought those shares, the company would have crashed overnight :-). Then I think about how much better the world would be w/o companies like Facebook and I depress myself even more :-). I am 100% to blame for a lot of toxic social media since I won’t invest in those companies thus forcing them into bankruptcy :-P.
“It’s okay, I once told a guy selling a 57 Chevy 210 Coupe that he was asking too much money for it, $150.”
Ugh ... collectibles :-). I’m into pinball machines. I have been since the mid 1990s back when you could get them rather cheap once they lived their lives on route and stopped earning money. I *knew* they were going to be collectible. I could have cleared out warehouses. I had the skills to fix/pretty them all up. I didn’t act on it though.
Still, I got what I wanted to own back then. I don’t have to pay the silly prices they fetch today. If there’s a title I want to snag, I always have something to trade for it :-).
“Don’t second guess Life, you can’t go back and fix it.”
You got that right and that’s some outstanding advice! If you know a particular thing very well and your gut instinct is trying to tell you something, try acting on it ... you will probably discover that you’re right!!! :-).
Should work until the power supply blows up. Then...
Good luck. Prayers up.
I sold my first real car, a 55 Chevy two door 210 Wagon for $300 to a friend of my Brothers. 265 with a Powerglide.
I’m 62 and I have only seen two of them in my Life. I’ve seen dozens of four door Wagons and Nomads though.
It took the guy six months to pay me all the money. That was back in 1970 I think.
Hindsight and all that. Many of us have similar stories.
After holding it for years with no gain, I sold a stock a few months before it went on a meteoric rise. Missed out what would have been a $600K profit. And it was in a Roth - I would have never had to pay tax on that gain.
A colleague was recruited by a hi-tech company via a friend who went to work for them. He turned down the offer. His friend later retired in his 30s after cashing in $5 million worth of stock options. My colleague is still working...
An so it goes...
In my youth I was a Chevy guy. Not that many Nomads around. I had a 56 Chevy four door wagon, my first car I bought when 16 for $100 (mid 1960s). I fixed it up pretty good by swapping in a straight front axle from a late 40s car, flipped the rear axle under the leaf springs and installed hydraulic air shocks with big chrome balloons in the rear and mags in front. Removed the rear door handles and blacked out the rear side windows, and installed bucket seats. Originally had an inline 6 cylinder, rebuilt it with triple single carbs, eventually going with a 327ci engine. Mean looking wagon, I would take it to the local racetrack in contests against others but it was still just a four door. I tried to buy a Nomad at an auction, but couldn't bid enough because price over $1000 (late 1960s). The guts of the 56 wagon eventually went into my 57 two door coupe (no door posts between front and back).
During this time I also bought and sold other nice Chevys, including a beautiful red 1958 Impala and a couple of sweet 1963 Impalas. All my cars bought and sold between $100 to $300, the going price back in the late 1960s through mid 1970s. Prices were dirt cheap!
He dropped in a 327 and a 4 Speed Muncie (I think). Painted it Candy Apple Red. Took it down to TJ and had the Interior done in Tuck and Roll Black Naugahyde. He also added Traction Bars. He used to Drag Race it at San Fernando and Irwindale.
After that he bought a 32 5 Window Deuce Coupe rolling Chassis. He built that all by himself when he was 17/18. Balanced and Blueprinted 283, 4 Speed Close Ratio Transmission and a 456 Rear End. He is 69 now and it's still sitting in his Garage. The thing could pop wheelies off the line.
It was a different world. Now I'm a Fossil. LOL
Sweet! Not surprising, with a 456 rear end, drool... Hope your brother takes it out of the garage from time to time, that's a vehicle meant to display on the go.
Unfortunately, it just sits there buried under boxes.
He always talked about replacing the Drivetrain to make it a Cruiser, but it never came to pass.
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