Monday, December 13, 2004
ULTE booted off my island
What a way to start the week. I wake up this morning, and what do I find? None other than a big stinkbomb from Ultimate Electronics in the way of a press release saying that there is "significant doubt" that it will be able to continue as a good concern. English translation: hi ho, hi ho, it's off to bankrupcy we (may) go. Luckily, I was able to sell 60 percent of my shares in the premarket at $1.80. I unloaded the rest for $1.17 later on in the day. As a result, ULTE is no longer in my portfolio.
What is the lesson to be learnt here? Actually, I am not sure. My philosophy is that investing is a probablistic endevour. The key is to buy stocks with a high expected return. The key word is expected. The stock may go up, it may go down. I still think I would have bought it knowing what I knew when I knew it (I must sound like Donald Rumsfeld). Anyway, my portfolio is down another 3 grand today, in what is becoming a daily statement on this blog.
What is the lesson to be learnt here? Actually, I am not sure. My philosophy is that investing is a probablistic endevour. The key is to buy stocks with a high expected return. The key word is expected. The stock may go up, it may go down. I still think I would have bought it knowing what I knew when I knew it (I must sound like Donald Rumsfeld). Anyway, my portfolio is down another 3 grand today, in what is becoming a daily statement on this blog.
# posted by Stockcoach @ 8:13 PM 
