$NVIDIA (NVDA.US)$ let me tell everyone a story in this may ...
$NVIDIA (NVDA.US)$ let me tell everyone a story in this may take several parts so bear with me.. many decades ago when I first got started in the business I had the privilege to work for gentlemen by the name of Ernie oldie. Ernie oldie started in the 1970s when Charles Schwab was just coming about same with another person by the name of Meyer blinder. and they all had different visions of where the markets were going and how they could change investing for the masses. Ernie already set up a nationwide chain of investment brokerage firms that filled the gap in between a full service wire house where you were assigned to a stockbroker and you would get research directly from that broker again people there's no internet at this time there's no cell phones you wanted to make a phone call you put a quarter in a phone booth or you picked up a phone at your house that had a wire connected to it. back then information was key and you would get it on the news you would get it in the newspaper the next day or you would get it from your broker that day. so Ernie already filled the gap between the wire house and discount brokerages which is what Charles Schwab was so he wanted you to get information from a research team he provided some advice through their stock brokers but let the individual investor also choose to make their own choice you are not pressured into doing either or. I did very well with oldie discount stock brokers and was promoted up and one of the trips that I went on to Florida was with the other managers and regional managers. during this convention trip Ernie already talked about his beliefs on investing and the mistakes that the average person makes.
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37+ yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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kind Wombat_2436 : learn to paragraph for God's sake
10baggerbamm OP : pt 2
what he said was and this is so important people make the mistake that once they have a company that they become profitable on that they need to sell it. and he says the problem with this is you're always starting over again. he said that when you have a winner you stick with it and you buy more his exact words were you taking initial position and upon confirmation that the company is growing their earnings are growing their market share is growing their profit margins are growing you take a secondary position and upon further confirmation that they continue on Pace to deliver you keep adding to that position. he gave the analogy if you were at a horse race initially everybody goes up and places their bets just like you do everyday when you buy a stock everybody starts at zero so you pick your horse. the horses line up that's 9:30 back then there was no early morning trading now it's 4:00 a.m.. and the horses are out of the gate ding ding that's the 9:30 Bell. your horse that you bet on jumps out ahead by two lengths going into turn one and you're feeling really good that's your stock it's up a few points from where you bought it.
10baggerbamm OP : pt 2a
rounding into turn two you're up four lengths. he said this is where most individuals make their mistakes they get so excited that they're going to lose their profits that they sell. what he said in his analogy is don't you wish you could go back to the betting window, now that your horse is up by four lanes and double down on your bed buy more bet on that winning horse... down the back stretch you're up by 10 lengths.. don't you wish you could run back to that betting window and put more money on that winning horse?? turn three the length is extended down the stretch your 20 lengths ahead.. don't you wish you could go back and put everything you have on that winning horse? he said in horse racing you cannot do that but when you're investing in a company you can. he finished up by saying let your winners run and press your bets on your winners and sell your losers cut your losses.