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I’m kicking myself for not selling Cable and Wireless for a 100% profit. Even at 80%+ profit it is shear greed that keeps me in. I should sell but I’m trying to hang in. If the takeover happens I’ll end up with a 150% profit, so its not irrational to hold out, even so the bid feels tentative to me.
However, I’m a ‘scaredy rabbit’ on these kinds of things in general so don’t trust my instinct. Today should bring more information.
I’ve been looking at some old portfolios and it’s clear that a lot of my old favourites simply ended up vanishing down the plug hole. I need to keep that in mind as I collect profits. I should cash them in more often. I’ve been hanging on too much.
This is because some of these companies just take off and go to the moon and its galling to realise you spotted the potential but then let them go. In effect I’m trying to be cleverer in selling. This is a tall order though, but the results should come out even.
Of course things feel very bearish right now and I’m taking a kicking. Having nearly been up 30% I’m now back into 15%+ land, which is still a big outperform for barely 6 months’ work. But bearish times make one think bearish thoughts.
Even so a cold blast of reality helps remind that the only way is not always up. This is a solid position in investing.
I held off buying two stocks which I will reassess next week. Buying on boredom is not a good idea even if they are strong candidates. Maybe when things look up I‘ll buy, but for now I’m sitting tight.
