Yeah, better off in California and New York where you have the pleasure of getting stabbed on the subway, step on a hypodermic needle, watch a bum shit on the sidewalk…all before you get to your office and pay 60%+ of your income in taxes.
A true progressive paradise
Buy and hold has been dead for decades, (unless you’ve been in mega cap tech you’ve most likely massively underperformed).
Some “Blue Chips” from 2000…
GM
F
GE
XOM
T
WCOM
AIG
BAC
C
BSC
LEH
The only thing you should buy and hold is a low cost index ETF. For every “I’ve held AAPL since 2000”...
If a $1200 loss is getting “rekt” you are trading way too big for your account size.
I realize you overbought but even if you lost $600 that sounds like a large loss for you.
Meanwhile it was only a .60 move on a $44 stock.
Cut your size or you will be long gone before you figure things...
In 2008 they weren’t.
GM, Wachovia, Countrywide, IndyMac, etc all went under.
BAC would have too if not for the government rescue package for them and the other “too big to fail” institutions.
Awful strategy IMO.
Dead money for the next few qtrs while they sit in the penalty box.
And if they happen to miss earnings again you could be looking at a declining business model and get stuck holding the bag as institutions unload.
Better off buying companies that beat and raise. Sure you...