Seasoned veteran SOFI bag holder here. I’ve averaged down in...
Seasoned veteran SOFI bag holder here. I’ve averaged down into almost every dip since it existed. I still like the business but I would’ve done things a lot differently knowing what I do now. And this goes for any stock not just SOFI.
What I’ve learned here is whether over/under hyped…what the market thinks is clear. One day I may be ‘proven right’ and blessed with huge gains. I’ll show people my $6.85 cost basis and they’ll go wow so smart wow he knew before everyone else. Maybe. But I’ll have spent a lot of time with my money stuck in a turd. That $ could’ve been in NVDA or any other name constantly making new highs and those profits could’ve been rolled into SOFI whenever it actually became investable. There’s a huge hidden cost of having your $ stuck in names the market doesn’t like.
What I’ve learned here is whether over/under hyped…what the market thinks is clear. One day I may be ‘proven right’ and blessed with huge gains. I’ll show people my $6.85 cost basis and they’ll go wow so smart wow he knew before everyone else. Maybe. But I’ll have spent a lot of time with my money stuck in a turd. That $ could’ve been in NVDA or any other name constantly making new highs and those profits could’ve been rolled into SOFI whenever it actually became investable. There’s a huge hidden cost of having your $ stuck in names the market doesn’t like.
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10baggerbamm : there is what is called a value trap. and I am in one right now also kndi. where the upside is very apparent the business is firing on all cylinders the growth is there however the stock is shorted it's manipulated it is a lower-end company relative to the high-end peers so it's a small fish in a big pond, is the best analogy. and there needs to be some catalyst that stops the shorting and causes institutional accumulation and I don't mean hedge funds I mean mutual funds that are buying for 1 year 3 year 5 year time frames. and that cost of the value trap can be as you referenced extremely frustrating from mental standpoint from a financial standpoint their stocks that are moving higher on a regular basis I mean look at broadcom right now and it's going to continue it'll follow the same trail as Nvidia post split. so the opportunity cost of sitting in a value trap is extremely frustrating. it's like sitting at an intersection and saying okay I have the legal right to go next I followed all the rules of traffic and you see an 18-wheeler coming and you say well it's my turn I'm just going to go and then you get hit by the 18-wheeler and you're dead so you were right you were next to go across the intersection but you're also dead because common sense was not listen to or followed. and that's the frustration of value trap it should be sold but you try to justify all the reasons for holding.
EZ_money : thanks for your story. doesn't sound like you been around that long as a bag holder since begining it was well under your cost average beginning of last year. I've made thousands off Sofi never lost money
EZ_money : you must be like that other
who bought at IPO price and didn't sell 