Oh the fun and games right after the latest gadget announcement. This is a message to all the Peter Lynch, Warren Buffet or even David Gardner wannabes out there.
Presently, I have all these people around me gnashing their teeth over another missed stock opportunity. They said they were remotely aware of the iPhone coming out and now they’re just spanking themselves in the behind for not buying AAPL last week or earlier. Sure, they haven’t been following the movements of the tech product cycle and now they want to speculate. Why is it that everyone just Monday quarterbacks every time this happens? Heavens knows how many times I’ve heard it from friends and co-workers singing the same song about how they missed that massive move up last week. So I say to them: yeah, why didn’t you buy AAPL a couple of weeks ago when the rumors were fresh and circulating? What’s that saying again….Buy on rumor, sell on the news?
Ah. How we are all reduced to the greatest know-it-alls, in hindsight. Either kick ourselves in the rump or say we’re so smart: how we made so much $X on Y and all that $Z on XYZ. But of course you must know this already, that AAPL could’ve just collapsed as much as it has soared. These are your usual fluctuations, perhaps even of the short-term variety (time will tell), and playing them is Las Vegas, baby. It’s like pumping that slot machine with a few grand per shot, unless you’re some experienced stock picker or technical trader. Sure we know this in our minds, but our emotions are saying other things and whispering to our tummies, making them tie up in knots with deep regret.
Don’t feel too bad if you missed the boat….again. Let’s just say you’ll miss many more. And will be buying more losers in your lifetime. You’ll also make out like railroad bandits on a few positions and coast with the rest of the market on many. What’s important is that you’re overall in the black. So I tell my buddies: how about if I give you a few more days to sack the moaning and groaning, then keep it bottled for the next happening stock that you may not get to own.
Better yet, if you haven’t already, why not just buy yourself an iPhone or iPod and listen to some Yanni. Maybe then you’ll be ready for your next move.
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I smell “recall” and i am not sure why.
Yes, I had it! Plus, my brother bought it the morning before the pop. I have to say that I took some pain before I got my redemption. Now, to find the next one…
Good for you Brian! My co-workers would be so envious of you. One of them had sold AAPL a while back and made no money.
I guess now the question would be: “did you sell Apple ‘on the news?’” Of course, I did not. I had Apple at 88 before the IPhone news (but also before it went down to about 85.) Between the new s and the earnings, I thought for sure, it had reached a point where it wasn’t going down, but staying in up territory. I actually thought if I hold it for this year, I could probably make a healthy 15-25% return based on predictions of $110.00 a share and my own decision about when to sell it en route to $110.00 a share. Now, I dont’ know if we’ll see 110 a share this year (although I think it will go to that if the newspapers would stop hating on it). We’ll see. My husband and I decided that if it backs up to the $98.00 range soon, we’ll sell; if not, we’ll probably hang in there long term — it is definitely a great company if it didn’t have that options cloud hanging over its head.