Quote:
Originally Posted by Sieg
Thank you - I'm guessing I'm not the only one that can have a tendancy to micro-manage the purchase price of a stock......so hopefully there's a lesson learned from the question.
Then there's the Sprint or XXX stock get rich quick gambling temptation and risk vs net reward factoring - another lesson.
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Yep -- and that was the point of my response.... That "we're" not chasing pennies... "we're" investing in long term capital growth and dividend streams. The pennies aren't really important long term.
I used to chase every opportunity - and buy stocks and flip them out up 50 cents or a buck... I paid the taxes on all that - and then looked back and saw that while I was making 50 cents a share -- the shares have climbed 40%... and had I just bought the first time and let 'em ride - I'd have made A LOT more money. I stopped doing that in 1998 to be exact... and started to invest . It's a much better strategy.
Now - if everyone on here already had 3 or 4 or 5 million - then we'd be discussing the next hot opportunity.... because at some point "you have enough" and can now truly "afford" to take some risk...(gambling) and then we'd be having an entirely different discussion.