Learning From Mistakes
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Learning From Mistakes We have a good discussion going on over at the COOL Club about learning from mistakes. Mistakes are usually not serious but the lessons they teach are usually not forgotten. How about those of you here? Anybody make a mistake in your clubs as you've been learning to invest that has helped you to learn a good lesson? I know in my club, one of our first mistakes was purchasing stock in a telecommunications company back in 1998. We learned quickly that investing in a business we knew nothing about was not a good plan. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe Using stop orders is not good in a club setting. We used them stocks sold 3 members decided that seeing we had money they would leave the club. Sent from my iPhone
Long ago as a new club we voted to purchase stock in a commercial furniture company, the the treasurer transposed the symbol and we had stock in a mushroom company!! We had a good laugh and it didn't cost too much.
From: Laurie Frederiksen <laurie@bivio.biz> To: The Club Cafe <club_cafe@bivio.com> Sent: Wed, September 12, 2012 12:10:21 PM Subject: [club_cafe] Learning From Mistakes We have a good discussion going on over at the COOL Club about learning from mistakes. Mistakes are usually not serious but the lessons they teach are usually not forgotten. How about those of you here? Anybody make a mistake in your clubs as you've been learning to invest that has helped you to learn a good lesson? I know in my club, one of our first mistakes was purchasing stock in a telecommunications company back in 1998. We learned quickly that investing in a business we knew nothing about was not a good plan. Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe I have a similar story. Our club voted to buy BBBY (Bed Bath & Beyond) but the treasurer accidentally bought BBY (Best Buy) instead. Rather than calling the broker immediatelyto fix the error, which they would have done, he sold it and bought the right one. The following month, BBBY was down 10% and BBY was up 8%. We were sorry he found the mistake! That BBBY was an expensive trade.
Lynn Ostrem Crow River Investment Club Long ago as a new club we voted to purchase stock in a commercial furniture company, the the treasurer transposed the symbol and we had stock in a mushroom company!! We had a good laugh and it didn't cost too much. |
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