How I Got Rich

[Sir Og]

I don't know if we have day traders here. Probably not. At least not on regular basis. Our market is very small. The market capitalization of all socks traded on BSE (Bulgarian Stock Exchange - Sofia) is 4.2 bn EUR.

[VetLegion]

Ours is ~50 billion EUR, which is also tiny compared to big countries' bourses. Google alone has market capitalization that is three times that amount.

But who cares? As long as it grows, all is well.

[VetLegion]

To give some historical perspective to this thread. I posted the first post at October 8th 2007, exuberant because of my gains. I thought I was playing it smart. Little did I know what was to follow. By today, the index dropped something like 20%, erasing my gains almost entirely. Tonight when I go to sleep I'll be thinking whether to sell everything the first thing in the morning, while I'm still slightly above, or whether the damn thing will stop dropping like an IDF pilot out of Cialis already.

I mean look at it. Is this humane? No it isn't.

And I do blame Bush!

[Dinner]

You should have sold a while ago but since it is down now you might as well hang on to it. It's not like it will become valueless.

[Tuberski]

Your previous graphs are already updated, didn't notice until I saw your new one however.

ACK!

[snoopy369]

Yeah, hang on to it (assuming there's some upside possible). Telecom/utility stocks usually go back up eventually, as they are relatively more stable. The market's down now, it'll go back up eventually (and with it, your stock).

[Arrian]

Unless you really need the cash, I'd say ride it out at this point. Again, I'm no expert, but I think I gave your the right advice back in August...

-Arrian

[Sir Og]

Originally posted by Sir Og


Our stock market seems to be very similar.

My portfolio rose over 100% since last October. I think there is still some growth left in the market but it is bound to crash and I don't want to loose a lot so I am thinking about getting a more conservative portfolio.

If I had actually sold back then I would have been some 4 thousand Euro better off.
I am still doing great ~30% last year but it could have been a lot better.

Here is what our indices (sp?) look like:

[Flubber]

Originally posted by snoopy369
Yeah, hang on to it (assuming there's some upside possible). Telecom/utility stocks usually go back up eventually, as they are relatively more stable. The market's down now, it'll go back up eventually (and with it, your stock).

I think the key is your comment "assuming there is some upside"-- No matter what you paid for your stock, your assessment has to be mainly based on its current price and whether you think it is a good investment at that price today.

I haven't had universal success doing this (dumped a couple of stocks well before their peaks and have had some not grow as well as I predicted) but I think its a better investment method. Whether it has lost or gained is OLD NEWS and while its informative, it can also be irrelevent to where the stock will head.

I do sometimes sell to lock in gains if I fear a stock's possible volatility but generally the only way you would see me selling at a loss is when my fundamentals in assessing the stock are changed. IF my assessment is that a stock is undervalued, the fact that it goes down SHOULD mean it is more undervalued (or people out there have information I don't )

Sell

1. if you need the cash ( even if its for a preferred investment)
2. if you see the stock as overvalued ( ie you would not buy it at that price) or if it is too volatile for your risk tolerance
3. Some for diversification

[VetLegion]

Originally posted by Sir Og

Here is what our indices (sp?) look like:

Let me know if real estate prices fell with the stock market. Here, there is no correlation yet but perhaps there's a lag. See this thread: http://www.apolyton.net/forums/showt...hreadid=174170

[VetLegion]

Originally posted by Arrian
Unless you really need the cash, I'd say ride it out at this point.

What makes the decision difficult is the fact that I am not in the red just yet. If I was, I would bite the bullet and hold. But I may have a window of opportunity of a day or two to pull out before my portfolio goes south completely. Many stocks in it already have.

I mean, it's not a huge deal. Even if I lose everything, I'm not in any sort of debt, so I'm cool. My travel plans would be set back though.

[SlowwHand]

SELL!

[VetLegion]

How much gold do you have burried in the back yard SlowwHand?

[SlowwHand]

You stay away from my yard.

[VetLegion]

You're safe. I can't afford basic neccessities now, let alone a plane ticket and a showel. I was more wondering what caused your pessimistic sentiment with regards to the stock markets?