GREY:XEBEQ - Post by User
Comment by
sumpinehon Dec 28, 2020 10:43pm
279 Views
Post# 32189413
RE:RE:RE:RE:RE:Buying or selling
RE:RE:RE:RE:RE:Buying or selling Mine was a similar story.After my father had sold,I thought $68 seemed like a good deal.I rode it down to $4 then bought a bunch more and got a dead cat bounce to $8 and sold to lesson the loss a bit. This was the first stock I had ever bought.The lesson prompted me to start watching BNN and learn a little about the market.Luckily ,it was only a small percentage of my assets.
GGreen wrote: Thank you for reminding us of Nortel - those with grey hair on this board will remember that this was a company / stock that was as BLUE CHIP as you could get on the TSX, steady growth (+ dividends if I'm not mistaken), held by many pension plans, large funds etc.
Back some 20 years ago I spoke to someone who worked at Nortel and asked them if Nortel was a good buy at $60 after it had pulled back from $120. Long story short: there is no forever stock. I bought and held the shares until the very end thinking their would atleats be a buy-out for the extensive IP... well the proceeds barely covered a couple of McDonald's combo meals for 2.
Its good to be reminded of some hard lessons every now & then so we don't make them again.