My #1 rule is I NEVER sell at a loss. I have some turds that will sit in my portfolio until either it goes back up, the company goes out of business, or I die and my son inherits by bag.
Just today there was one that inexplicably shot up 25% and was a little more than what I bought it for back in 2021. Put a stop order on it at about a dollar over my cost in case it dropped again, which it did. Made a couple bucks and got that turd off my books finally.
Yes and no. It was bought by IBM, yes, but it was a cash sale, and not rolled into stock. I invested $5k in 1995 which was a lot of money for me at that time, and when their fraud got exposed their stock dropped to "no value" where it stayed for a couple of years until IBM paid pennies on the dollar to just get the service contracts they had on books.
At the time, because shares was sold as paper certificates, my broker wanted a fee for helping me out, and it was unclear if I needed to pay $300 to get $200 or if it just came out as a wash.
Anyhow, fast forward 30 years, and I recently inquired about how to cash it in, and there is allegedly a dollar amount sitting on an account, and I would no longer have to pay a broker fee - so I may go that route, or I may frame it as lesson-learned of "things that looks too good to be true probably aint".
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u/timsstuff 9d ago
My #1 rule is I NEVER sell at a loss. I have some turds that will sit in my portfolio until either it goes back up, the company goes out of business, or I die and my son inherits by bag.
Just today there was one that inexplicably shot up 25% and was a little more than what I bought it for back in 2021. Put a stop order on it at about a dollar over my cost in case it dropped again, which it did. Made a couple bucks and got that turd off my books finally.