I've noticed myself commenting on several blogs lately, saying things like "do your due diligence, or you deserve to lose money." It has come to my attention that some fools do not do their own analysis, but follow the picks of top fools in their real life portfolios. This is a very dangerous habit, and is one that should never be followed. If you can't give me a quick 5 minute pitch for a certain stock on the spot, you probably shouldn't own that stock. You should be able to tell me exactly why you bought that stock. [more]
Never close a pick in the red [more]
I currently only use limit orders on my .OB and .PK picks. Today, I manually closed 2 of my picks. However, I just checked, and every single .OB and .PK stock got ended today, many for negative points.
Did anyone else have picks with limits closed, many for negative points?
Until now, I've held my emergency fund in a "high-yield" online savings account at ING Direct. This emergency fund is mainly to shield myself from a layoff, deal with a car breakdown, or something else major. It will not be spent. Due to the low interest rates, I only get 1.50% APY. I plan on increasing the size of it because it's not big enough for these economic times, but it pisses me off to get such a low yield. [more]