Biggest Investment Mistakes you have ever made.

NEW -> Contingent Buyer Assistance Program
Don't get me started....

*Sigh*



- One of the biggset mistakes (in my opinion) has been to continually pull money out of my IRA/401k. I used these to purchase properites.... I always wondered what my 401K would have been.



- I remember selling most of my Silver once silver reached $6 an ounce. I think I should have waited... :lol:



- Picked up a diamond a LONG time ago for a song and a dance (2.96ct - VS2, E-F color). I essentially sold it for 50% of what it was worth because I just wanted to get rid of it... :(



Otherwise i've been very conservative....



AND of course my biggest mistake SO far (not investment) has been my Mustang. After 3 engines, 3 transmission, 2 rear ends, 2 superchargers, 3 suspensions and 2 brake systems, I probably could have bought and current M3 with cash... and lots to spare.



good luck

-bix
 
[quote author="biscuitninja" date=1219905682]Don't get me started....

*Sigh*



AND of course my biggest mistake SO far (not investment) has been my Mustang. After 3 engines, 3 transmission, 2 rear ends, 2 superchargers, 3 suspensions and 2 brake systems, I probably could have bought and current M3 with cash... and lots to spare.



good luck

-bix</blockquote>


I did the exact same thing with my Oldmobile 442 when I was young. I must have blown $20K

back in the day. I did get it to run 12`s a few times. Trannys. Damn 4 Speeds. Always

kept a spare in the garage.



So now I am stupid and Got an SL55. Just as fast and no breaking of parts. Just $ 50K in depreciation in 2 years. But it looks good and always works. Unlike my Olds.



Not Buying More Cleveland Cliffs. CLF. My $20K would be a million if I left it alone.

DUMB DUMB. Did I mention DUMB.



Not shorting the Financials and Freddie and Fannie. No Guts.



But the worst is my business partner and his REIT. Minus 250 LARGE. Ouch.
 
In August of 1987 I brought my life savings, $3700, into my friendly Merrill Lynch office and said ?Let?s invest it!? I ended up in three stocks, the only one I remember was Methode Electronics. Two months later, Black Monday. The stocks weren?t worth selling because it would not cover the commission.



I somewhat made up for it with Qualcomm in 1999; in at 17, out at 62, my first and likely only $50k Christmas bonus.
 
<blockquote>Two months later, Black Monday. </blockquote>
Ah, Black Monday, October 19, 1987.



I was working for Boston Financial on Black Monday.

I remember the day like it was yesterday.

The phones were ringing off the hook with very concerned customers.

It certainly wasn't my best day - although it was memorable.
 
Kept my 401k out of the market for all of 1999 (and earning 5.9% APY) until after I saw that y2k was a non-event. Then I went all-in during the first week of Jan 2000. You can imagine how that turned out.



In 1999, I had access to a tech-heavy mid-cap fund that returned 110% which I cheerfully ignored, waiting for The Great Y2K Buying Opportunity That Never Came.



My second biggest [potential] mistake is getting out of the market at Dow 11k or so in mid-2006. The meltdown we're experiencing now I had expected to happen much sooner. I've been waiting for a re-entry point ever since, and watching the market gyrate sideways at ~11.5k is sickening. It's plainly obvious to any thinking man that the US is on course for disaster with its debt and twin deficits. The question is when... Will we get one more big boom cycle before K-winter and the attendant secular bear market takes over?
 
[quote author="bltserv" date=1219906579][quote author="biscuitninja" date=1219905682]Don't get me started....

*Sigh*



AND of course my biggest mistake SO far (not investment) has been my Mustang. After 3 engines, 3 transmission, 2 rear ends, 2 superchargers, 3 suspensions and 2 brake systems, I probably could have bought and current M3 with cash... and lots to spare.



good luck

-bix</blockquote>


I did the exact same thing with my Oldmobile 442 when I was young. I must have blown $20K

back in the day. I did get it to run 12`s a few times. Trannys. Damn 4 Speeds. Always

kept a spare in the garage.



So now I am stupid and Got an SL55. Just as fast and no breaking of parts. Just $ 50K in depreciation in 2 years. But it looks good and always works. Unlike my Olds.



Not Buying More Cleveland Cliffs. CLF. My $20K would be a million if I left it alone.

DUMB DUMB. Did I mention DUMB.



Not shorting the Financials and Freddie and Fannie. No Guts.



But the worst is my business partner and his REIT. Minus 250 LARGE. Ouch.</blockquote>


Pssh 12's... how SLOW! :lol: So far the Mush is pushing low 11's and high 10's while retaining some driveability. Its a race car anyways.... I at least don't need anymore 100 octane. The next little project will use a small little engine sourced from Boeing/Rolls Royce..



Otherwise i'm like you, i'd probably be sitting on another 250k+ with all the used money.
 
Great thread. I wish I had a big investment mistake. I know I know...that sounds crazy but the truth is, I come from a super conservative family and am unable to take financial risks. I want to invest my money in more than CDs but I always seem to be too scared to buy stock or buy a mutual fund. Fortunately, both the wife and I max out the 401Ks and we have those in some mutual funds but outside of that, I am chugging along at 3-4% return a year since college. Actually, I do own some stock. I have an ESPP that I have been maxing out since I started work and I now have over $100K in company stock...and I know its dumb because if the company fails, I lose my job and the $100K.



Hence, I admire all of you have big mistakes as you are willing to try. Me on the other hand, I am hoping someone or something pushs me to be less risk averse.



Edit: I forgot that I do have one big investment mistake. Taking 5g's to Vegas and trying to double it on the blackjack tables. Ended up losing the $5 and another $2 on ATM cards. :)
 
I made more of a financial mistake than an investment mistake.

One of my best friends convinced me to work for her making some sweet cash.

I really didn't want to work for a friend, but the money was talking louder than my senses.

Anyway, I took the job for about 3 years.

I was able to pocket some nice cash; however, the friendship will never be the same as it was before I took the job.



I should have listened to the old saying, "Never do business with friends or family."
 
You must log in or register to reply here.
Back
Top