Originally Posted by tryan
... my boss said "Buy USAir its's ONLY $3!!" . He mortgaged his house and dropped a 5 figure sum into it. I bought $900 just so we had something watch together. Needless to say USAir's bankruptcy wiped out both of us. He insisted on getting his stock certificates from his broker so he could frame them and hang them above the toilet.
In the category of good advice, one of my bosses said: "Leave some appreciation for the other guy (buyer)." As a result, I have often left some upward momentum to the other guy and avoided sudden reversals.
The other piece of advice was: "Don't be afraid to take a loss!" and that has also caused me to do lots of tax-loss selling.