OK - this maybe TABOO to some - but I've noticed many Company threads are big on bullish news/sentiments - but more quiet if things are sliding.
So - i thought it might be fun and educational to share some of our biggest Invesment disasters. As i said on a diff. thread last night - I'll show you mine - If you show me yours!! Me first - to get the ball rolling.
My worst would have to be MRL (clothes and discount Retailer) at this stage. I just stuffed it up completely from the start. Followed the crowd on entry; Didnt use a STOP; Didn't heed the warning signs when The Wharehouse started to take MRL marketshare; Held on waaayyyy too long ...
MRL - bought in @ $3.35 when it was going gangbusters in Late 2001.
Only to see The Wharehouse from NZ come and spoil the party.
--> Finally got out @ 1.05 in Jan 05 !!!
Lessons - 1. Use stop losses - sometimes it's better to get out, take the loss and move on to something profitable.
2. WATCH the competition - esp. in Retail env.
3. DON'T just follow the sheep - analyse and be clinincal.
Anyone care to take up the challenge.
NO need to mention $$ amounts. too