“The worst thing you can do is invest in companies you know nothing about. Unfortunately, buying stocks on ignorance is still a popular American pastime.”
I guess I did the worst thing… I’ve been steadily investing for over 10 years now. In that time, I’ve been able to set up steady contributions to my saving, retirement funds, and investment accounts. I wanted to implement a more aggressive strategy for this account. By trying to be aggressive, I got reckless. I bought into positions without much research. I bought stock based off advice from friends (who don’t have much experience in investing), news articles, and off emotion.
After reviewing my portfolio, I plan to exit from my positions in PTX and SPHS when the opportunity arises.
Aggressive doesn’t mean reckless.
*Peter Lynch managed the Magellan Fund at Fidelity and had an average return of 29% from 1977-1990. Legend. Highly recommend any of his books.