Image Credit: thelastminute I should have known better. Actually, I did know better but it just sounded too good to be true. You know what they say, if something sounds too good to be true, it probably is. I overheard a couple of people talking about a hot stock in the elevator at work the other day.
As soon as I got off the elevator and made it back to my desk, I did a quick search on the stock. The numbers looked pretty good and the stock was actually up over $3 for the day. I immediately dropped about a grand and picked up about 43 shares.
If I'd only done a little more research and waited a little while, I wouldn't be down over $100 today. I think the stock will rebound but I still wish I'd done a little more research. I'm really bad about making quick decisions without thinking about it.
Don't make your investments based on someone else's recommendation. Do your own research! Not only might you get a bad tip; your investment goals may be totally different.
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I highly recommend listening to the "Warren Buffet Way", by Robert Hagstrom, book on CD. Warren Buffet made billions, not on hot stock tips, but investing in solid companies that he understood. Ever heard of Redhat, RHT, a friend of mine purchase RHT on a hot stock tip at around $75 dollars per share. It hit $150 dollars per share in 2000. Within less than 1 year it had dropped to $3 per share. Today it is trading around $17 dollars per share. Hot stock tips are like gambling, you might as well take your money to Vegas.
Wha? Your not going to share the hot stock tip with us? ;)
I learned not to take stock tips from people I work with. If they knew what they were talking about, they wouldn't be working with me. I dunno if those people actually worked with you, but if they did...
I'm hoping it rebounds for ya...
Hello!
Thank you for using my photo. If you could please link to my blog:
http://www.thelastminuteblog.com/
as per:
http://flickr.com/people/thelastminute
If not it's cool. Thanks!