How can I avoid another Starbucks mistake?
I bought this counter at $76 and sold at $75 because I wanted to switch some funds into ETFs a few days ago. lo and behold when I woke up this morning, it shot up suddenly to $96, presumably after some positive corporate announcements.
How to avoid such mistakes in the future?
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I'm a casual investor from Malaysia, learning, diversifying, and taking charge of my retirement funds.
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74124403 : Not to be rude but the simple answer is, to be an investor, that holds long term. I made the same mistake a dozen times. Eventually I took Charlie Mungers advice and just invest in what I know and understand, I keep my portfolio small and simple. That way, I don’t miss out on my stocks going up.
NoahK : Investing should be done with long term view. First you must make up your mind for your holding time, 1 yr 3 yr 5 yr... or whatever timeframe suits your investment profile. Then you look at which sector may perform. Then the company performance. Stay away from speculative trades. You are not day trading. CEO change triggering stock price up is totally speculative, so you know. Especially the starbucks performance may go down due to recession fears, which many economist think we are already in. The first cut back in consumer consumption will come from luxury or pricey items that you can easily replace with cheaper alternative. This is one of those. CEO change happened because of that fear.
Invest in ETF as you did is best in this turbulent time. Not a financial advice, but look at SGOV ETF performance. This could be something you should consider.
If you did your home work on stock performance and invested, little up down in shorter time frame should not make you buy or sell.
CNNT OP 74124403 : My portfolio is small too and I'm in my month 3 of investing. I want to stick to my strategy to pick high dividend stocks, hold it, pay attentionto the market and switch when something better emerges. Glad you found your own investing style and all the best!
CNNT OP NoahK : I did not do much homework when I started in early June this year, I was eager to chase the buy 20 stocks and earn points campaign, so I just went on a buying rampage based on looking at simple indicators, growth potential and also my gut feel about certain companies or brands.
This particular one was painful since I could have earned $20 per share if I waited for 3 more days. But we'll, I consider this, along with all the losses I incurred as part of my tuition.
I have to say US market is very attractive for the short term game compared to MY. My portfolio split is 50:50 in this 2 markets, and only just started venturing into SG.
Thanks for your valuable advise.