The Ignorant Investor
Ignorance Can't Stand in the Way of My OpinionThursday, March 23, 2006
Man, Did I Blow the Timing on the Trade
I've been holding out selling a big position in Glaxo Smithkline for a week or two as part of a broader move from holding individual shares to holding index funds. I was ready to sell on Monday, but the shares have been doing so well lately I figured I'd hold out, even though I kind of knew that the upside potential was shrinking with every move upward. In other words, I got greedy. So what happens? The stock drops 2-3% over the past few days.
Oh, well. This is the story of my investing life. Yet another episode telling me in very clear terms: "Don't try to time the stock market, you schmuck."
I should put that in a little index card and post in the mirror above the bathroom sink. Read it every morning as I shave.
[Update- Sold the shares on March 24 after GSK ticked up about a percent. So it wasn't a total fiasco, and I escaped my doom wiser and only a little poorer]
Oh, well. This is the story of my investing life. Yet another episode telling me in very clear terms: "Don't try to time the stock market, you schmuck."
I should put that in a little index card and post in the mirror above the bathroom sink. Read it every morning as I shave.
[Update- Sold the shares on March 24 after GSK ticked up about a percent. So it wasn't a total fiasco, and I escaped my doom wiser and only a little poorer]
posted by Worker 17 # 4:21 PM 
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