Reminds me of the dot com bubble. Remember that? I was a buy and hold investor then, made $25,000 on EMLX (Emulex) and TLGD (Tollgrade) then. Boy, did I felt rich. I took like 60 of my friends in the office to an expensive seafood buffet lunch. Paid in all in cash, gave the waitresses nice tips. I also, went to Las Vegas every 3 months during that time. Then, the crash. I was holding CSCO which I bought at the top, $120 per share if I remember correctly. I had 200 shares of it but, also, had other substantial positions. I kept holding and holding and wishing it would recover and ended up losing what was left of the $25,000 plus a lot of my own monies which was more than that. Buy and hold was dumb. I ended up on a quest to be a trader after that. It looks me years and a lot of mistakes but, lucky for me, I learned to use stop losses and proper risk management. Last year was my best year as a stock and options trader. I will be 65 this year so, I figure I have maybe, 10 years left of trading if I am lucky. Only regret, I wish I could bring back time 30 years. I could do serious damage in 30 years with what I know now. I am a self-taught stock and options trader.
