Quote:
Originally Posted by GregWeld
Investing isn't all about hitting a home run. It isn't all about being "lucky". It IS about patience... it is about CONTROLLING RISK... it is about controlling being GREEDY... it is about taking SOME risk while also trying to avoid losses. The losses WILL be there... but you need to control those losses so they don't take you down. Read this again. YOU WILL LOOSE MONEY at some point in something and it will never be the thing you thought you'd lose in. It always comes out of left field. The key is to have that loss not be a big deal. Hurtful - sure - but losses - when you survive them - make you a better investor. Why? Because they teach you not to be so f'n greedy - they teach you to not invest in stuff you know nothing about - they teach you to do better research.... They teach you to say NO to your neighbor/buddy/cousin who has a "can't loose" investment...
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You had to bring up Bank of America again didn't you... ugly, painful... at one point I just cut it loose. Overall it was about 5% of my total, so with everything else doing good I was fine.
My other, maybe not so painful, was Annaly Capital. I think I broke even, but that means for two years that money made zero net. Great dividends, but the stock was essentially consuming itself to pay for those dividends. The stock price was dropping to match the dividend payout more or less.
Both of those stocks had me watching the market too much. Now I just check in on it every month or so.