Investment advice?
Posted by admin on May 30, 2009 · 10 Comments
fhgkneifl asked:
I have been getting killed in the stock market. I bought a bunch of Google at $742 and now it is down to $618 /per share. I did well with Apple picking it up earlier on this year at $150/share so no losses there. However, I have lost a lot more than gained because of buying the google. Should I sell or should I just wait for it to go back up again. The losses are getting close to 20%. I think it will go back up but I’m really upset about buying it so high on investment advice from Jim Cramer. Thanks!!
investment advice
I have been getting killed in the stock market. I bought a bunch of Google at $742 and now it is down to $618 /per share. I did well with Apple picking it up earlier on this year at $150/share so no losses there. However, I have lost a lot more than gained because of buying the google. Should I sell or should I just wait for it to go back up again. The losses are getting close to 20%. I think it will go back up but I’m really upset about buying it so high on investment advice from Jim Cramer. Thanks!!
investment advice
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Jim Cramer… really? He doesn’t even know what he’s talking about.
-P
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Stocks never go straight up. If you’re going to invest in them, you’ll have up periods and down periods.
What is your opinion of Google’s future prospects? If you believe that they’re going to do very well, then hang on. There is a good chance that you’ll get your money back and then some. If you believe that they’ll do poorly, then cut your losses and sell. If you don’t have any idea, then you shouldn’t have bought the stock in the first place.
When listening to Jim Cramer, remember that he does not know your personal financial situation, your tolerance for risk, or what other investments you may have. I occasionally get an idea from him, but I NEVER buy or sell solely on his advice. You have to do your own homework and decide if it’s right for you. Otherwise, it’s not investing. It’s gambling.
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You may want to look at a covered call strategy to bring the cost basis down, but there are trade off’s to that as well. If Google would go up extremely quickly, you would not partake in all of the rally.
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don’t mind me…i’m just sticking around for the answers
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Wait.
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I really try hard to like Jim Cramer – he has a certain charm that I like. But when I watch his show I don’t get any “meat” from it. He’s just got a catchy way to talk about stocks – lots of bells, whistles, and sounds. But he never gives me anything to bite on. I’m sorry he’s let you down, though.
I’m not sure I’d sell all my Google. I might would sell half and let the rest ride it out. If it continues to fall you got some money back and you learned a good lesson. If it goes back up you should be able to recoup some of your losses…and again, I think you’ll have learned a lesson. I’ve been there before, its not fun. Good luck with whatever you choose.
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Think long term. Where do you expect to see Google in 12-24 months? That is what you should base your decision on.
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just wait, if you sell it now because of panic sell-off then stock market is not a right place for you.
i bought some stocks too at it’s peak a week ago and i know exactly how you feel
the question you have to ask yourself is, does the company you invested in deep trouble? do you feel they will gain huge amount of profit in the near future? if you do, then buy more shares right now instead of selling it.
for google, i am losing money too (starting) but i am not worried about it. hang in there. DO NOT sell GOOG
investment advice
DON´T sell GOOG! You will soooo regret it in a couple of years. This is the kind of stock you buy and hold for a couple of years. Just hold it, consider it a savings, even though your taking a hit now, you will be rewarded later, but you have to be patient. In fact, just stop watching it for now, trust me, it will turn. It will probably keep going down alittle further, but in the future it will much do better, and you will do very well. BTW, Jim Cramer NEVER said to buy at the $742 level, he recommended much early. I am waiting to jump in, its getting to be a great price. When I buy, I will hold for about 5 years.