I'M EMBARRASSED just thinking about it. I've owned Netflix since it was $19 a share. When it hit $277, I sold. The next day it went up to $283, and I thought, "What was I thinking?" and bought it back. The rest is sad history: It's now around $90 per share.
My original gut instinct was accurate, but greed got in the way and I'm paying for it now. I've lost a lot, but at least I did milk the stock over the years, taking profits numerous times to expand my portfolio in other directions.
I'm hoping one day it will come back again, as I'm not selling now. I continue to use Netflix out here in the country, looking for my discs in the mailbox and happy to get them.
- A.M.G., Coquille, Ore.
The Fool responds: Hang onto the shares only if you're confident they will grow. Otherwise, move what's left into stocks you're more sure of. You may have a better chance of making your money back elsewhere.