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Oh my....I thought I was still lurking!?
Old 12-28-2009, 12:51 PM   #1
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Oh my....I thought I was still lurking!?

I had logged in so that I could see the pics and videos posted by others...and BAM....forgot to log out....and then Avatar (the movie) PULLED me in.....so here I am....

Thanks for the Welcome Back ....although I must confess that I never really left....I have found that I make a GREAT lurker and that I am NOT a good investor....and still feel that I have nothing (if anything) to add to the wisdom found in this community! (other than a sad story of what NOT to do...otherwise known as how NOT to invest )

OK....let's see what I can remember.....

I sold enough of my BAC stock to capture enough losses to last a lifetime....I was really hoping to buy it back at my sale price (or lower) but THAT didn't happen either....I really DO suck at this....

I'm still holding most of it in hopes that it just MAY come back within my lifetime .....or that they just may start paying a dividend again (my BAC dividends originally were 50% of my retirement income!)....with a basis for most of it around $55/share, my portfolio has recovered from the stock's low, but even that is still little comfort when I am still down over 70%. I have read that there are many on the board who have recovered (and even exceeded) their losses since the March 2009 lows and while I applaud them, I can't honestly say that it makes me feel any better....if anything....well....the word "dumbass" comes to mind.....

I've been living off of my last year's part time work and my eBay sales (uhhh....VaCollector....notice the collector part) as well as rental income that covers about 40% of what I need....and I still have plenty of cash reserves to last another year or 2.....plus my DW is still contributing to social security and covering our medical and (thank goodness) her financial needs

So while I haven't seriously looked at returning to the w*rk force, I have had to come to the realization that I MAY have to if at least some portion of my portfolio (real estate too) doesn't recover enough to make it at least palatable to liquidate.

Still.....I have to admit that once you lose $600K (40% of portfolio) in a matter of months...while doing everything that you were taught was right.....and come to grips with that fact....and then realize that you're not going to starve to death....and that it is really is ONLY MONEY....that those problems are nothing when compared to others who are dealing with health issues.....

My FIL has stage 4 lung cancer and I have been soooo fortunate to have had the time to be there thru radiation and chemo.....it has been a reminder of the importance of family and friends!

To summarize....not much has changed....still a dumbass investor....still lucky enough to have avoided returning to full time employment.....still lurking.....and now (maybe) posting every now and then
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Old 12-28-2009, 12:58 PM   #2
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Welcome back!

You are doing well with your e-bay and rental income. Glad to hear it! Seems like enough time has passed, that hopefully you can start forgiving yourself for that investing mistake. After all, we are ALL human and I can guarantee you that none of us (even the investment gurus among us) have lived our lives making no mistakes. I am glad that your portfolio has recovered at least somewhat, even though it may not be back to where it was. Also I am so glad that you haven't had to go back to work!

By the way, you are SO RIGHT about health vs money. Those of us who are still pretty healthy are the luckiest of all.
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Old 12-28-2009, 01:34 PM   #3
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Welcome back!

...psst... Beaver Cheese futures...
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Old 12-28-2009, 01:52 PM   #4
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Welcome back from me, too!

I think about you often and am glad to hear that you have such a healthy perspective on your situation. The happiest people I know do more counting of their blessings than enumerating their curses. Good for you, but sorry to hear about your FIL. Nice that you could be there to help.

And remember: we are all dumb@$$es, some of us just don't know it yet!
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Old 12-28-2009, 02:06 PM   #5
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And remember: we are all dumb@$$es, some of us just don't know it yet!
hey, I resemble that remark...
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Old 12-28-2009, 02:33 PM   #6
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Welcome back....

Even if we didn't have the bacon thread, this forum can still be entertaining at times...
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Old 12-28-2009, 02:58 PM   #7
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Yeah, welcome back. I was wondering how things were going with you. Got a friend who rode BAC down and is holding on, and I thought of you whenever we would talk about it. Glad to hear you're making out OK.
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Old 12-28-2009, 03:10 PM   #8
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Welcome back ! I've often wondered how you were doing and now I see you are doing okay ! No use beating yourself up even Warren Buffet lost a chunk and he is definetely not a dumba--.
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Old 12-28-2009, 03:41 PM   #9
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Welcome back I was scared the other time you posted that you would not be back. Don't worry about mistakes there has not been a perfect guy for about 2009 years now.
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Old 12-28-2009, 03:51 PM   #10
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Darn it. Another person who lost less than I did in the past couple of years.
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Old 12-28-2009, 06:45 PM   #11
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I can search, and I will if I have to (don't make me do it ), but could anyone point a link to the aforementioned tragic investment mistake?

** Found it - Adios & thanks for ALL!
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Old 12-28-2009, 06:54 PM   #12
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Quote:
Originally Posted by VaCollector View Post
...(snip)...
Thanks for the Welcome Back ....although I must confess that I never really left....I have found that I make a GREAT lurker and that I am NOT a good investor....and still feel that I have nothing (if anything) to add to the wisdom found in this community! (other than a sad story of what NOT to do...otherwise known as how NOT to invest )

OK....let's see what I can remember.....

I sold enough of my BAC stock to capture enough losses to last a lifetime....I was really hoping to buy it back at my sale price (or lower) but THAT didn't happen either....I really DO suck at this....

I'm still holding most of it in hopes that it just MAY come back within my lifetime .....or that they just may start paying a dividend again (my BAC dividends originally were 50% of my retirement income!)....with a basis for most of it around $55/share, my portfolio has recovered from the stock's low, but even that is still little comfort when I am still down over 70%. I have read that there are many on the board who have recovered (and even exceeded) their losses since the March 2009 lows and while I applaud them, I can't honestly say that it makes me feel any better....if anything....well....the word "dumbass" comes to mind.....
Welcome back! I kept wondering about you everytime BAC came up in the news -- and that was a lot. Don't worry, many of us felt like dumbasses after 2008.

The important thing is to have a well thought out strategy going forward. So I sincerely hope you have a diversification/sell strategy as BAC recovers. In fact, there is no need to get even before you get out -- a classic investment mistake.

Bernstein has a new book out, the Investor's Manifesto. I mention this because it is more readable and very up to date (Jonathan Clements forward was July 2009).
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Old 12-28-2009, 08:03 PM   #13
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Hi VaCollector, I'm really glad you are back. I also appreciate that you shared your story with us. I've made some bad choices in my investments, but I'm not going to post about it

My Father had most of his investments in one stock too. Everyone I know said he was one of the smartest people they had ever met. The stock was in Dow Chemical and it really took a beating this year, I'm glad he wasn't around to see it.
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Old 12-29-2009, 10:43 AM   #14
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Welcome back. I am glad to hear that things are going okay with you and that you realize how fortunate that you are, since you have your health. You have also been blessed to be able to spend the time with your FIL.

There are plenty of smart investing people on this forum. There are plenty of people on this forum with way more money than I will ever have in my lifetime. They are all very nice and willing to share their knowledge. As a matter of fact, you have more money than I do. I made the decision to take an early retirement and enjoy my time. Thankfully, my needs and wants are not that great. There are some things that I would have enjoyed doing (trip around the world), but that is not going to happen and I am okay with that, since there are also other things that I enjoy that do not cost near as much.
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Old 12-29-2009, 05:31 PM   #15
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Welcome back, VaC. You were mourned.

Can we persuade you to consider diversification again?
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Old 12-31-2009, 09:56 PM   #16
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Well, VaC, welcome back!

You still retain your sense of humor. That's good. Yes, it's only money, OK, gobs of it, but you are not empty handed, and still have plenty left to be richer than many out there. Hang around. There are people in this forum who know how to entertain
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Old 12-31-2009, 10:23 PM   #17
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VaC,
Let me add my voice to the "Welcome Back" chorus. I was thinking about you and your situation just last week, wondering how you were doing. It's great to hear that you are okay. Very sorry to hear about your FIL's health woes, but it does put other concerns into perspective.
Good luck with those rentals and the sideline biz. I know it is emotionally hard to sell those depreciated BAC shares, but . . . maybe sell some and buy some other beaten-down stock so at least you'd have a few lottery tickets instead of having everything riding on just one.
Don't be a stranger!
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Old 01-01-2010, 07:02 AM   #18
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When the world ends Dec 21st 2012, I hope I am drinking a beer with VA Collector on the night of Dec 20th
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Old 01-01-2010, 08:22 AM   #19
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I bought a few shares of BAC today, VA - my little contribution to helping your shares go up again.
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Old 01-01-2010, 09:55 AM   #20
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VACOLLECTOR:

What do you sell on ebay?
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