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anoviceinvestor- Stop now! don't do that! (somebody find this guy and talk some sense into him)

Recs

42

August 20, 2009 – Comments (19) | RELATED TICKERS: WNR

On August 19, 2009 at 11:55 PM, anoviceinvestor (47.87) wrote: i put my entire nest egg of 10k in WNR just now. gmx is a top fool and solaris is popular so cuz of that i think i can get it. ive been saving for 2 yrs so this half my income but in this bull bull bull market i think the downside is limited. thank u gmx and solaris !! i am 23 andmy goal is to have one million by 27!

 

  #21) On August 20, 2009 at 8:31 AM, SolarisKing

Uhm, i hope you check back on this. I have to say, don't do that. Go RIGHT NOW, and sell two thirds of your WNR postition. NEVER PUT YOUR WHOLE BUNDLE ON A SINGLE BUY. That's my advice. PERIOD. If you want, some other good picks, check AllStarPortfolio's account. You would rather be in late, than to have missed the bottom and be down 50% for years.

oringinal post

-solaris

19 Comments – Post Your Own

#1) On August 20, 2009 at 10:05 AM, SolarisKing (< 20) wrote:

Hey, novice, are you getting this? 8 recs in an hour, and not one syllable of dissent.

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#2) On August 20, 2009 at 10:40 AM, catoismymotor (< 20) wrote:

I have to admit that I read his post. While I don't agree with his decision I felt it was not in his best interest to raise my voice about it. Why? Experience is the best teacher. Surely he has read about diversification if he has been a member of the Fool for more than five minutes. So he should know better.

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#3) On August 20, 2009 at 11:13 AM, leohaas (31.98) wrote:

At age 23 one can afford to lose his/her entire nest egg. If that happens, the lesson will be valuable. He/she will no longer be a novice...

On the other hand, what if WNR goes up?

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#4) On August 20, 2009 at 11:16 AM, ocsurf (< 20) wrote:

Kids have to sometimes learn the hard way.

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#5) On August 20, 2009 at 11:19 AM, SolarisKing (< 20) wrote:

If he follows my advice and dumps most of it, then "if WNR goes up" he/she can buy in on dips, or something.

NEVER PUT YOUR WHOLE BUNDLE ON A SINGLE BUY.

this post is quilckly becoming one of the fasted rec'ed single paragraphs in recent memory. Seems like a lot of fools agree with it.

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#6) On August 20, 2009 at 11:22 AM, goldminingXpert (29.52) wrote:

The problem will be that he will double his money in the next few months and turn into a compulsive gambler. Making money this fast teaches bad habits.

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#7) On August 20, 2009 at 11:29 AM, russiangambit (29.33) wrote:

all money on a oil refining company? I don't get it. It seems whether oil goes up or go down refiners only loose money. They only make money (and not a lot either) when oil is stable. What are chances of this happening?

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#8) On August 20, 2009 at 11:32 AM, TMFBabo (100.00) wrote:

Lol, I like how GMX subtly talks up WNR in the process.  I do think WNR will go up, and I think there will be a bigger lesson learned later. 

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#9) On August 20, 2009 at 12:15 PM, portefeuille (99.66) wrote:

hi solaris,

could you sell half of the FACT shares for the AllStarPortfolio on msn money. So sell 118 shares today or when you find the time. No need for a limit or timing. Thank you!

 

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#10) On August 20, 2009 at 2:26 PM, SolarisKing (< 20) wrote:

Portefeuille.

Of course. I will get it right now.

 

There. done. In fact, look at this

 

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#11) On August 20, 2009 at 2:49 PM, SolarisKing (< 20) wrote:

Wow. 31 recs in 6 hours? Is this one quick paragraph gonna' get 60 recs and put me on the most rec'ed for the month page for the first time?

All the good post i've slaved over, and this on cut and paste single paragraph gets 30 recs in a morning. huh. 

I guess 'NEVER PUT YOUR WHOLE BUNDLE ON A SINGLE BUY' is popular advice.

-solaris

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#12) On August 20, 2009 at 3:13 PM, portefeuille (99.66) wrote:

Thank you solaris!

I just looked at the FACT transactions. Leaving out transactions costs the buys add up to $5877.76 and the sells add up to $5296.00. And you still have 118 FACT shares so due to the gains those remaining shares now have a "theoretical" buying price of ca. $4.93 per share. FACT is currently at ca. $10.70 so I don't think you will run into trouble with that position. Sell the rest at $100 per share in 2010, hehe ...

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#13) On August 20, 2009 at 4:10 PM, eldemonio (98.69) wrote:

Wow, those are pretty big gains, I just pulled all of my 401K and dumped it into FACT - Woohoo, I'm rich!

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#14) On August 20, 2009 at 5:10 PM, awallejr (79.45) wrote:

Actually Russiangambit, it isn't so much as his putting all his money on a refinery (though he probably should have waited until Novermber, or at least scaled into), it's his reasoning for doing it.  Taking the adivce of anonymous bloggers without doing a stitch of research.

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#15) On August 20, 2009 at 6:29 PM, UltraContrarian (31.61) wrote:

I'm pretty sure he was joking.  If you look at the last post on his last blog he says he is not buying anything right now.

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#16) On August 20, 2009 at 8:26 PM, SolarisKing (< 20) wrote:

UC: I am beginning to think that, yes he was joking, and i fell for it, and then most of the people who rec'ed this post were teasing me for falling for it  ;-)

OK fools, you can quit teasing me now, lol.

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#17) On August 20, 2009 at 9:48 PM, anoviceinvestor (< 20) wrote:

I did buy about 150 shares of WNR. And 10 shares of UNG.

 

Portfolio is about 90% cash.

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#18) On August 20, 2009 at 11:00 PM, awallejr (79.45) wrote:

Just curious anoviceinvestor but do you know anything about WNR and the industry it is in?

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#19) On August 20, 2009 at 11:17 PM, anoviceinvestor (< 20) wrote:

Yes.

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