Author Topic: What is your biggest investment mistakes?  (Read 17993 times)

Dustin T

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Re: What is your biggest investment mistakes?
« Reply #70 on: November 26, 2013, 07:32:34 AM »
Buying General Maritime GMR in Feb of 2009. I was smart enough to know I need to add some money into a down market, virtually any investment made at that time did. Not mine, I invested in a shipping company (owner operated)  that paid a huge dividend in an industry heavy on supply and low on demand. They had just bought more tankers at rock bottom rates and I thought once things turned around they would be flush once more. I sold prior to their bankruptcy wiser and poorer.

I did learn lessons. Shipping is outside my circle of competance. I avoid leveraged companies unless the revenue streams are very predicatable and well understood. and lastly the owner-operator was still chairman but he had hired a CEO and was running a second shipping company. He had recouped all of his investments in GMR via dividends and poured them into his new ventures and was actively running them. My money wasn't in his "baby" but in his worn out old workhorse that he had already put out to pasture.

A few months ago I read "The shipping man" and it pretty accurately reflected my experience in the industry.

"If you're prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won't get bored." -Peter Lynch


Partner24

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Re: What is your biggest investment mistakes?
« Reply #71 on: November 26, 2013, 07:53:11 AM »
The RIM investment has an awesome twist to it though - because I had made some money before the earnings and I was about to buy an engagement ring, I had to sell some RIM shares....  and through the jeweller in Taiwan, I got to know her husband, who introduced me to his friend, who introduced me to this board  (I'm serious!)    Prior to that I had assume no other value investor existed LOL     

That's a very funny situation. I guess you are happy to have met that jewelrer!  :)

CorpRaider

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Re: What is your biggest investment mistakes?
« Reply #72 on: November 26, 2013, 08:22:59 AM »
Two words:  Lucent Technologies. 

frommi

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Re: What is your biggest investment mistakes?
« Reply #73 on: November 26, 2013, 10:45:57 AM »
One of my biggest mistakes was daytrading from 2003-2007. Lost around 2-3 years of expenses. I traded everything, futures, options, KO certificates, CFDs.
I had a lucky start with some good runs, but lost all of it soon after and some more in the next years. It was like casino gambling, i think i made some banksters rich.  ;D

mysticdrew

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Re: What is your biggest investment mistakes?
« Reply #74 on: November 26, 2013, 04:40:33 PM »
Loading up on LEH   :'(