our worst investments

[Dreamer]

Want2Retire,

I just wanted to say that I am sorry for your loss also. It is never easy losing a loved one. I agree with you about spending the time with them while they are alive.

[W2R]

Quote:

Originally Posted by Dreamer Want2Retire, I just wanted to say that I am sorry for your loss also. It is never easy losing a loved one. I agree with you about spending the time with them while they are alive.

Thanks, Dreamer. Much appreciated.

[Nords]

Anyone still holding their MOVI shares?

http://today.reuters.com/news/articl....XML&type=qcna

[two4theroad]

I got bullied into AXP New Dimensions Fund by an advisor that took over my account in 1999. I did not know how to handle the pressure. I knew it was wrong as I had been well balanced in my account by my old adviser (he got cancer and retired unexpectedly) and this new young guy just wanted to make his mark. I lost about $60000 in the entire account, most of it due to that fund. I had to threaten to leave the firm in order to get them to change me to another adviser. I still have money in Ameriprise, mostly in funds that are not associated with them, but it is only about 5% of our IRA funds now and they are performing well under the new adviser.
2fer

[martyb]

In 1981 I went to work in Austin, TX for the Air Force (civil service). After a couple of years, my boss mentioned that one of his kids knew a kid in school at UT (University of Texas) that was looking for a few investors to help get his computer company going. Sounded flaky to me. Computers weren't really a big deal at the time, and I figured I had more important stuff to do with the $1000 that this Michael Dell guy was asking for..........by the way, my boss didn't invest either, but HIS boss did. When he retired, I'm not sure how much he had, but it was definitely a couple million or more. Unfortunately, he died of prostate cancer just a few years after he retired.

[jazz4cash]

Quote:

Originally Posted by daystar My grandma gave me MCI in 1984 and I never sold it. Well, it became Worldcom somewhere in the 90's and then it went bankrupt. I could have sold it for $30,000 in 1999.

DW has worked for all the telcos and lost a ton on company stock in each. In 2000 she was at ATT and thier new CEO had 'pioneered' the idea of 'tracking' stocks that don't represent equity...not sure exactly how they were structured, but ATT introduced a tracking stock for thier wireless division and employees had IPO privledges. We bought at 29 and sold at 11.....ouch. There was a class action with an estimated settlement of approx 3/share which I was excited about....we got the check last week........ 75 cents per share. Class action was oversubscribed or whatever....glad I did not 'spend' the anticipated windfall on xmas.

[cute fuzzy bunny]

Quote:

Originally Posted by Nords Anyone still holding their MOVI shares?

Eh, its all netflix and I think these guys will take over the retail portion

redbox

They're in all the supermarkets, walmarts, macdonalds and other locations around here.

Hmmm, bad investments? Having the VP of sales at the little company I worked for in the mid 80's tell us to go buy some of the company stock, since "something realllly big is about to happen". Turned out that the really big thing was the company declaring bankruptcy. But the good news was that a bunch of employees calling their brokers to buy the stock got a little speculative bubble going and the price went up a good bit for a couple of days, allowing this particular VP to unload his shares.

I had actually taken out a loan to buy my soon-to-be-worthless shares.

Oh, he got in a bit of trouble with the law, BTW. He didnt travel near my sales office after the bankruptcy news hit. Pretty smart of him.

Good lesson learned to not listen to any insiders with alleged good news.

Second worst was buying a bunch of Tyco around 97/98 and then as it fell like a rock, increasing my holdings. I managed to dump on a little bounce but still lost a bit of money.

Good lesson learned to not buy alleged super blue chip companies that are a cant miss proposition on paper because nobody ever knows everything.

[Moemg]

My worst investments were penney stocks .They always sound so promising . BKMP promised to be a winner . I should have taken the money to a casino and placed it on red .I would have had a better shot at making money .I have learned my lesson and luckily it was not that big of a loss .

[walkinwood]

Mine was I2 Technologies. I bought it before it was an 'internet' stock and watched it go up ten-fold. Then watched it fall below what I bought it for. What was I thinking!!.

In early 2002, I read Intelligent Asset Allocation and came to my senses. Sold all my individual stocks at a huge loss and bought a diversified set of mutual funds on the same day. The sad part is that I KNEW about asset allocation having read A Random Walk down wall street in '96. .. but such was the nature of the internet mania!

Live and learn, I guess.

[Jeff55]

Worst investment: Listening to a greedy financial planner, who convinced me that purchasing an annuity within a tax-deferred account was a good idea.
Turns out, it was a good idea....for HIM. He made a bundle in fees and commissions. I know what your questions for me is: Yes, years later, when I began to acquire my own investment knowledge, I fired him.

[RetireeRobert]

Can't remember which was worse: Public Service New Mexico (power company) which took a dive sometime in the 90's as I recall. I had bought it as an income stock; or Metris (financial company) which took a dive in the tech bust of early 2000's, and I sold out near the bottom---then two years later it became a ten-bagger for those who bought at the bottom!?^%&* .

I have several other "mistakes" as well, but don't like going back to think about them. Fortunately, diversification/asset allocation/persistence overwhelmed the mistakes and kept me going to FIRE.

[Puzzley]

Easy question for me...... United Airlines, before it went belly up.

[FinanceDude]

Quote:

Originally Posted by Jeff55 Worst investment: Listening to a greedy financial planner, who convinced me that purchasing an annuity within a tax-deferred account was a good idea. Turns out, it was a good idea....for HIM. He made a bundle in fees and commissions. I know what your questions for me is: Yes, years later, when I began to acquire my own investment knowledge, I fired him.

How much money did you lose?

[Ronstar]

Being a member of an LLC that bought 3 Florida condos in 2004

[Delawaredave5]

Holding too much company stock. Excessive risk, concentration, and downright irratational..........