# Whats your worst mistake this yr?



## donald (Apr 18, 2011)

Ive had a couple haymakers that have tagged me.
Bought cat @ 109(right @ the top)Still like it thou long.
Td samething,fcx mid 3os.Recently though i speculated on wynn before earnings(i though they would beat)I have a very strong feeling the shorts are over this in spades and i am very close to a exit.(bad reports,reflected in stock,very close to my exit)

Anybody have any bad buys?

Ps dont you hate when things on your watchlist are proving to be winners!!But you dont pull the trigger!!


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## Jungle (Feb 17, 2010)

Ahhh yea...

Was buying TSX index in the 13500 range. TFSA and SM account. 

SM still positive but TFSA, no!


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## KaeJS (Sep 28, 2010)

Bought 300 ABX.TO @ $46.50 on margin.

Got stomped out at $42.


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## al42 (Mar 5, 2011)

PBN,PBN,PBN,PBN and PBN.


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## Belguy (May 24, 2010)

My biggest mistake was not moving more to cash back in the spring!!


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## JamesRaymond (Oct 8, 2011)

I am willing to admit when I was wrong. In my portfolio, I had a stock that I owned that had become over-priced based on its real value (sure, easy to admit that in hindsight). It climbed up quite well since purchasing it in 2008, and I was reluctant to get off the ride. This year it has fallen almost 50% in price. That stock is CSF.

This can happen to the best of investors. I know I am still in the learning process myself - and, frankly, will be my whole life. We all can just hope to learn from the mistakes we make, and aim to keep any future lessons inexpensive in the future.


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## Eder (Feb 16, 2011)

I bought RY at $55,$52 but only bought 200 at $45.


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## gibor365 (Apr 1, 2011)

Belguy said:


> My biggest mistake was not moving more to cash back in the spring!!


My biggest mistake was investing big money in 1st quarter of 2011 (when I opened discount brokerage account). Should've just buy GIC and keep money in HISA and play with just 5-10% of money in this casino..
just couldn't imagine that after crush of 2008-9 , we came to another crush 2 years later


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## fatcat (Nov 11, 2009)

not putting all my money into gic's back in 08 when i could get 5%


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## Potato (Apr 3, 2009)

This has been a _spectacular _year for mistakes. Let's see, I managed to hit:
Sino-forest
Yellow Pages
Petro-Bakken
Tokyo Electric
Canwell
and Indigo

There's gonna be a hell of a year-end summary this December.


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## gibor365 (Apr 1, 2011)

Potato said:


> There's gonna be a hell of a year-end summary this December.


Beleive me you are not alone


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## dogcom (May 23, 2009)

Bought RIM at $45 but luckily I have learned from past mistakes and sold it at $43 when I realized that it was not going to be going the way I thought it would.


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## Homerhomer (Oct 18, 2010)

I had a limit sell order on SU at 42.99 for my trading block, it reached 42.98 and is now below 30. Had traded it couple of times and actually had brains to get out of the trade, unfortunately got a brain cramp and bought back into it about $14 too high without realizing it was a falling knife.

Bought Encana after their earnings I believe on Aug 3rd, Aug 4th hell broke loose ;-). Thought the earnings were good so bought it. It had a bit of a run up into earnings hence buying after earnings was a mistake, another mistake was thinking that I can outsmart the market and buy low into Nat Gas.

Not going hard into trades on dips, all my trading blocks are relatively small, could have made way more money if I were to utilize my cash better, hindside is I believe I will have plenty more opportunities in the next 12 months or so.

Other than that I am not complaining.


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## larry81 (Nov 22, 2010)

Potato said:


> This has been a _spectacular _year for mistakes. Let's see, I managed to hit:
> Sino-forest
> Yellow Pages
> Petro-Bakken
> ...


Oh wow, are you chasing the losers !?!


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## Spudd (Oct 11, 2011)

Mine was buying Complete Genomics (GNOM). I paid $15.75 and now it's languishing around $5. It totally tanked while I was on vacation and I missed my chance to cut my losses.


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## Toronto.gal (Jan 8, 2010)

*Donald:* you only asked for this year, but I'll give you my entire history!

*Potato:* I'm sorry for you, that's a painful list. I hope 2012 will be much better! 

2009: having entered the market in October instead of in March. Painful to remember what shares cost in March/09:

*Ford:* $1.50 [bought for $10]
*ENB:* $18 [bought for $41 {pre-split}]
*AAPL* $100 [bought for $200]
*BMO:* $28 [bought for $50]

And the list goes on and on, but let us remember that we have other opportunities now! 

- Buying MFC in 09 instead of in 2011

2010: RIM/RIM/RIM [though I have somewhat corrected that mistake in 2011].

2011:

- having sold a handful of stocks too early, even when the purpose had been to trade and not hold them; one went up 300% mere weeks after selling them & I had several thousand shares.

- not having booked a higher % of profits on the best performing stocks.

Best decisions:

2009: dumping all my high MER MF's as well as my financial advisor [who knew less than me] & becoming a DIY investor.
2010: joining CMF/learning traditional trading.
2011: learning option trading.


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## joncnca (Jul 12, 2009)

i don't think some of these 'decisions' can be classified as 'mistakes.' 

a mistake implies that one could have known to make a better decision with the information available at the time, and that another person could be reasonably expected to have made a different decision with the same information, which could have resulted in a better outcome.

in retrospect, some of these decisions seem like mistakes because the stocks went down, but was it obvious that they would have gone down at the time the decision was made? no one can see the future, they can only make the best decision they can at the time, with the information available at the time. predictions of future outcome are usually not available at the time of decision-making. otherwise, we'd all be loaded!


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## Ihatetaxes (May 5, 2010)

dogcom said:


> Bought RIM at $45 but luckily I have learned from past mistakes and sold it at $43 when I realized that it was not going to be going the way I thought it would.


You did better than me, I bought on in March for $55.75 and sold on May 2 for $45.75. 18% loss but I am SO glad I didn't average down and buy more. That is my worst move this year and the only sale for a loss.


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## HaroldCrump (Jun 10, 2009)

joncnca said:


> i don't think some of these 'decisions' can be classified as 'mistakes.'
> 
> a mistake implies that one could have known to make a better decision with the information available at the time, and that another person could be reasonably expected to have made a different decision with the same information, which could have resulted in a better outcome.
> 
> in retrospect, some of these decisions seem like mistakes because the stocks went down, but was it obvious that they would have gone down at the time the decision was made? no one can see the future, they can only make the best decision they can at the time, with the information available at the time. predictions of future outcome are usually not available at the time of decision-making. otherwise, we'd all be loaded!


With apologies to Royal-Mail, I just had to quote this entire post...it is very insightful and very well stated.

*T.Gal* - your list from 2009 - are those your realized losses or just a drop in paper values?
Did you buy and sell at those prices or that's just the price movement?
Didn't you hold any of those through the 2009 - 2010 timeframe?


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## Toronto.gal (Jan 8, 2010)

HaroldCrump said:


> 1. I just had to quote this entire post...it is very insightful and very well stated.
> 
> 2.T.Gal - your list from 2009 - are those your realized losses or just a drop in paper values?


1. I completely agree! I call those learning & even necessary mistakes.

2. I think you misunderstood me Harold, I am up on all those stocks from my 2009 list.  

My point had been how many more shares I could have had if I had entered the market 7 months sooner than I did. Example:

In March 09, $10K would have bought me 6,666 shares whereas in Dec.09 [when I purchased Ford], $10K only bought me 1,000 shares.


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## HaroldCrump (Jun 10, 2009)

Toronto.gal said:


> 2. I think you misunderstood me Harold, I am up on all those stocks from my 2009 list.


Right, so then it's not a mistake.
These should be part of a thread titled _What are your best trades ever_.



> My point had been how many more shares I could have had if I had entered the market 7 months sooner than I did.


Yeah sure, but then we can't talk about could-have, should-have, would-have type scenarios.

Imagine if you had entered the market right after the 1929 crash, how much up your portfolio will be today


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## hboy43 (May 10, 2009)

Hi:

I don't think I have any mistakes this year. 

Could have sold more SU 9 or 12 months back but I didn't have any need to raise any more cash and the position wasn't excessively oversized. 

I also didn't know at the time there would be a major change in my long term plans, so can't really fault myself for now wanting to spend a big pile of money on a boat, and maybe not having the finances organized best to handle this.

My new stock purchases, some are up, some down. In the aggregate I am up 5% plus whatever dividends have come in, less interest costs. Are the currently underwater buys mistakes, or just the cost of admission to the investing playing field?

So in hindsight, some things I would have done differently? Sure, but I don't think they are mistakes.

hboy43


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## Toronto.gal (Jan 8, 2010)

HaroldCrump said:


> 1. we can't talk about could-have, should-have, would-have type scenarios.
> 
> 2. Imagine if you had entered the market right after the 1929 crash, how much up your portfolio will be today


1. Why not Harold, aren't those considered mistakes also? 

I get your point & you're right, but I am 1/2 right too! 

I think that at least some people view having stayed away from the lows of 2009 as a gigantic mistake because that crash had been historical, regardless whether good purchases had been made later in the year. 

In my case, I had not stayed away out of fear, but out of stupidity & lack of interest back then, so I will always count this as a mistake of historical proportions, however, one that made me a very motivated investor thereafter.

2. I couldn't have because not even my parents had been born then.


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## zylon (Oct 27, 2010)

Booked a good sized capital loss on AEM yesterday to offset part of the gains from earlier this year. In this case, the bigger the loss, the better; and AEM may have found a bottom yesterday. I immediately put the proceeds into Sentry PM Fund. It will be at least 6 months before the jury can decide whether this was a mistake or not.

In any case, the year is still young ... nearly 50 more market days left, so there's ample time for a larger mistake to present itself.


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## HaroldCrump (Jun 10, 2009)

Toronto.gal said:


> 1. Why not Harold, aren't those considered mistakes also?
> 
> I get your point & you're right, but I am 1/2 right too!
> 
> I think that at least some people view having stayed away from the lows of 2009 as a gigantic mistake because that crash had been historical, regardless whether good purchases had been made later in the year.


I wouldn't consider them mistakes.

Because, by that logic, you are making mistakes right now, this very moment.
Right now, there is some stock that is priced incredibly cheap, some stock that will gain 50% during the next year, some other stock will gain 100%, and some penny stocks will gain 1,000%.
You are making a mistake by not buying those.

I go back to what joncnca said above:
_some of these decisions seem like mistakes because the stocks went down, but was it obvious that they would have gone down at the time the decision was made? no one can see the future, they can only make the best decision they can at the time, with the information available at the time. predictions of future outcome are usually not available at the time of decision-making. otherwise, we'd all be loaded_



> 2. I couldn't have because not even my parents had been born then.


I know of course, but you see my point?
We can't look back with the benefit of hindsight and say we should have done x, y and z (not just with investing, but with everything else).

Our mind and memory plays funny tricks with us.
It attempts to convince us that at some point in the past, all the signs were there to make an accurate prediction of the future, and that we SHOULD have made the correct call.
We transpose all known information today back into the past and convince ourselves that the exact information was available back then in some shape or form and that our analytical mind should have been able to interpret it correctly and attach appropriate weight to each piece of information.

It is a similar process to why the past always appears better than it actually was.
Who among us doesn't wistfully look back and drown in reverie thinking of those "fine old days", gurgling brooks, green meadows, grazing cows, etc.

But, I digress

Back on topic : you bought in Oct 2009, instead of March.
However, _as of today_ your decision appears to be a correct one and not a mistake.
The difference is 30% profits vs. 50% profits (for example).
But that's not a mistake, IMO


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## tendim (Nov 18, 2010)

Moved YLO into my TFSA back in February. Lost 95% on the value, and I can't claim the loss. Right now, the value for my position is about the same as the brokerage fees to do the trade, so I keep it as a daily reminder in my portfolio of a bad trade decision.


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## Toronto.gal (Jan 8, 2010)

HaroldCrump said:


> you see my point?
> We can't look back with the benefit of hindsight and say we should have done x, y and z (not just with investing, but with everything else).


I do see your point, well 75% of it. 

You're a wise person Harold & have actually made me feel better!


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## Lephturn (Aug 31, 2009)

#1 Getting nailed selling put spreads in CSCO in July-Aug - I should have just let the short side get assigned and waited it out.

#2 Backing off on AAPL and buying my put spreads back for a small loss in the low 300's.

I'm not too upset, as in both cases my losses were limited and I followed my plan and exited when the trade went against me.

Frickin' CSCO.... /sigh.


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## kcowan (Jul 1, 2010)

Bought UAX as my only uranium play just before the tsunami. In at 20, holding at 17.


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## w0nger (Mar 15, 2010)

ptu was my only uranium play.... was gonna sell the week before the earthquake for profit... now im down 85%


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## Betzy (Feb 7, 2011)

December will be my first full year of DIY investing, loss bad on PBN but regained a little with a call bought and sold. Still holding 650 shares.
Yeah i bought the falling knife YLO but only $275.00, I'll keep it and wait for it to go out or come back...
My biggest lesson and mistake has all been on not having an exit plan! I now know how to "insure" my stock so I need not worry about it turning against me and keeping it all the way down...
Spent $50 on an Option seminar day and so far it has made me back some of the mistakes above, best $50 bucks spent yet!!


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## larry81 (Nov 22, 2010)

Not buying enough TSE:SU ?


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## gibor365 (Apr 1, 2011)

larry81 said:


> Not buying enough TSE:SU ?


BTW, larry, did you sell some SU? Ibought smoe at $26+ , but holding because my average price is much higher...


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## Toronto.gal (Jan 8, 2010)

gibor said:


> I bought some at $26+ , but holding because my average price is much higher...


I used to think that way too, but not anymore, especially not with stocks that don't pay a good dividend. Just as an example:

- SU ACB = $33
- new purchase of 200 shares @$26 
- sell the 200 shares @$30
- profit = $800
- then use the profit to average down the $33 ACB when shares go down again [as they are doing in this volatility] or average down/accumulate other stocks, etc.

For tax reasons, I only do this under my RRSP account. Am I missing something?


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## larry81 (Nov 22, 2010)

gibor said:


> BTW, larry, did you sell some SU? Ibought smoe at $26+ , but holding because my average price is much higher...


Still holding all my shares 

Up about 14k as i speak, dividend coming 1st september, will evaluate what i do when it reach 35 

MT look very attractive to me too...


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## gibor365 (Apr 1, 2011)

Toronto.gal said:


> - then use the profit to average down the $33 ACB when shares go down again [as they are doing in this volatility] or average down/accumulate other stocks, etc.
> 
> For tax reasons, I only do this under my RRSP account. Am I missing something?


I understand what you are telling...I was thinking about it too... But what if i sell at $30 and SU doesn't go below $30 anymore....?


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## Toronto.gal (Jan 8, 2010)

Well Gibor, there is always the possibility that the stock will never again go below a certain price, so it's something you have to decide. 

I have lost count how many times a stock I bought and held, went below my price, not once, or twice, which would be the norm, but over and over.  That is what made me a trader, volatility!

I normally don't sell all, I work in tranches most of the time, but I don't let a good profit disappear because I did so once & it taught me a lesson, so don't think you're the only one taken advantage by volatility. 

What is more important IMO, if one sells, is what you'll do with the returned capital & profits.

At the end of the day, you have to do what feels right for you.


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## avrex (Nov 14, 2010)

Misery loves company. I did the same thing as some of you, as follows.



al42 said:


> PBN,PBN,PBN,PBN and PBN.


My mistake was worse. I accidentally purchased PBG. That's the parent company. The one that doesn't pay the dividend. doh!



dogcom said:


> Bought RIM at $45 but luckily I have learned from past mistakes and sold it at $43 when I realized that it was not going to be going the way I thought it would.


Yep, I did the same thing. I bought this falling knife, but fortunately, quickly bailed out, and cut my losses.



Lephturn said:


> #1 Getting nailed selling put spreads in CSCO in July-Aug - I should have just let the short side get assigned and waited it out.


Yep, I also sold short puts in CSCO in June. I too got caught in the August market meltdown. 
I've continued my options education and have (hopefully) improved at offsetting/diversifying my option risks. 
For example, today my long call in MCD paid off handsomely (+72%).


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## Potato (Apr 3, 2009)

larry81 said:


> Oh wow, are you chasing the losers !?!


It is a bit of a specialty of mine, but many of those were _not_ the case of chasing losers. 



joncnca said:


> i don't think some of these 'decisions' can be classified as 'mistakes.'
> [...]
> in retrospect, some of these decisions seem like mistakes because the stocks went down, but was it obvious that they would have gone down at the time the decision was made?


A very good point, but in my case yes, at least a few of those were definitely mistakes. My sino-forest one was well documented, but Canwel was even dumber.

I've had Canwel for years, pretty much since the IPO. I rode it down in 2009, added a tiny bit close enough to the bottom to feel good about, then sold that bit after a paltry 20% gain, and kept the original amount all the way back up. Then, with it sitting at around $5, I decided it was over-valued and time to get out. I put in an ask for $5 and went to work. But that day, it went down to $4.84 and my order wasn't filled. I left it open for a week, but it never came back up to $5, instead sliding down towards $4.50. Rather than take my money and run, and get out of a stock I really did want to get out of, I was a stubborn fool.


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## Sherlock (Apr 18, 2010)

I put a few thousand in CIBC's energy fund and precious metals fund in Jan '11 (at or near the peak). Both are down significantly. Luckily I don't need the money so I can wait it out.


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## larry81 (Nov 22, 2010)

nice topic btw


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## gibor365 (Apr 1, 2011)

Talking specifically about equities my biggest loser this year: % wise SWK, $ wise RY.


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## KaeJS (Sep 28, 2010)

Can I add a second mistake?

Selling 100 MCD at $77 when I bought at $75.

It is now $92.....


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## Financial Cents (Jul 22, 2010)

Toronto.gal said:


> At the end of the day, you have to do what feels right for you.


Well said. 

You go gal


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## Oilers82 (Jan 17, 2011)

Bought RIM at $56.00 and holding. Yikes! Good thing I only bought 40 shares and didn't average down.

Ford at $16.10...but still like it long-term. Was gonna get out at $18 but it never topped $15.50 after I bought haha.

I too unfortunately started investing in January 2011 so I have suffered some losses on my canadian equity ETFs, but pretty much even on US funds and up a bit on my bond funds and gold. Overall losses are manageable, and about 35% of the losses are all due to RIM.


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## gibor365 (Apr 1, 2011)

Oilers82 said:


> Bought RIM at $56.00 and holding. Yikes! Good thing I only bought 40 shares and didn't average down.
> 
> Ford at $16.10...but still like it long-term. Was gonna get out at $18 but it never topped $15.50 after I bought haha.
> 
> I too unfortunately started investing in January 2011 so I have suffered some losses on my canadian equity ETFs, but pretty much even on US funds and up a bit on my bond funds and gold. Overall losses are manageable, and about 35% of the losses are all due to RIM.


I also did better on US equities, losses much less than on CAD ... pretty much down on all US ETFs VTI, PRF, VEA and JPM, but up PM, ABT, MO, JNJ... sold with some profit AAPL and AGNC


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## Abha (Jun 26, 2011)

Cool that you picked AGNC. I'm playing that field too via CIM


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## marina628 (Dec 14, 2010)

Sherlock I almost made same mistake as you but was at TD for the energy and equity.I am so glad i cash out 90% of my precious metals in January this year and took my profits .I am trying to live by bird in hand is more than two in a bush with my investments .I even folded a pair of 3's this morning in a poker game , losing my edge for risk maybe lol


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## gibor365 (Apr 1, 2011)

Abha said:


> Cool that you picked AGNC. I'm playing that field too via CIM


I've been watching lately AGNC and NLY - those imho the most promissing stocks in this field... CIM looks for me too risky


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## cdnpennystocks (Oct 27, 2011)

I wasn't paying attention to my RIM call option, accidentally bought 100 at around $80, I noticed a few days later and figured I would hold on a bit to see where they were going, at $50 I sold half hoping for a bounce, boy was I dumb!


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## cdnpennystocks (Oct 27, 2011)

Oilers82 said:


> I too unfortunately started investing in January 2011 so I have suffered some losses on my canadian equity ETFs, but pretty much even on US funds and up a bit on my bond funds and gold. Overall losses are manageable, and about 35% of the losses are all due to RIM.


You think you picked a bad time to start investing. I put my life savings into stocks on May 28th 2008, the very peak of the market!

This was after consulting with a top consultant from TD bank. Luckily it was only 30% in stocks, 30% in bonds, and the rest was still cash, but still worst timing ever!


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