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Best and Worst Money Moves

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Jim at Bargaineering.com has been compiling a list of best and worst money moves. I've been putting it off simply because it's pretty hard to go back and analyze over the years. Do I include the set of 1986 Celtics Basketball cards that have appreciated some three hundred times their value? I've decided not to as it was pure speculation and luck. Do I include all the bad dates I went on before I found "the one"? That was part of the journey, so I'm not going to include that. Here's what's left:

Best Moves

  • Investing in a Internet stock at the IPO price in 1999. I worked at a popular Internet company, but didn't get in for the pre-IPO prices. However, they let me buy some shares at the IPO price with no restriction on when I could sell. When I look back it seems kind of shady. Anyway, I made 10K, which out of college is a good thing.
  • Moved to San Mateo County. I know you are thinking... what?!?! It has a HUGE cost of living. The money my fiancee and I are making so much more than make up for it. Here's the scary part... Since we moved out for her job, I had to take one of the first job I could find or lose money each day. As a software engineer, I could probably command another 20% if I decided to switch to another job.

Worst Moves

  • Remember that Internet stock that I mentioned above? Well I continued to invest in the Employee Stock Purchase Plan and just barely broke even after the dot-com bust. I also used that money and bought other Internet stocks. Like most, I didn't get out in time. I did transfer a good chunk of money into bigger technology companies like Lucent and Worldcom. Ouch!
  • Purchase that new sports car. It was a reasonably priced car as far sports cars go - under $30,000. I had cars that would barely run previous to that. I went to the opposite end of the extreme. If I had saved that some of that money and bought a condo at the time, I would have had a much better bottom line right now.

Posted on November 9, 2006.

This post deals with: ... and focuses on:

Money Management

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4 Responses to “Best and Worst Money Moves”

  1. Hey Lazy!

    The key is that you can own up to your mistakes and learn from them.

    Happy investing.

    Joe

  2. Golbguru says:

    So I had company on the Worldcom investment disaster :). That totally threw me off the investing scene for a while because that, unfortunately, was the first investment of my life !! :)

  3. My biggest investing blunder was when I first started stock trading in 2001… I invested in Nortel… :(

    You live you learn.

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