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<p>[QUOTE="GoldFinger1969, post: 2100471, member: 73489"]Sometimes that happens, ASE....when you have a cyclical company like GM or a high-flyer like a Tech or Internet company, you MUST sell periodically. You can't be seduced by the mathematics of greedy wealth.</p><p><br /></p><p>I had a friend who worked for a big tech company. He made a few hundred thousand a year as a sales guy -- great income. He also got loads of cheap stock in the 1990's and then watched as the stock went up like 3,000%. He had a few million in stock and could probably have sold over half of it.</p><p><br /></p><p>Instead, he kept doing the math as to how much it would be worth in 2005 if it went up another 30-40% a year from the 1999 and early-2000 levels. So he never sold a share. And then watched it plunge about 85% from peak-to-trough. And again, this wasn't a small tech or internet company, it was a big one, one of the Top 20 or Top 30 or so (at that time, late-1990's).</p><p><br /></p><p>My friend was lucky -- he didn't lose his job, just alot of paper wealth. But when you have both your job and your wealth tied up in the same company you MUST sell even if you leave $$$ on the table.</p><p><br /></p><p>Otherwise, you're doubling-down with both $$$ and a steady paycheck.[/QUOTE]</p><p><br /></p>
[QUOTE="GoldFinger1969, post: 2100471, member: 73489"]Sometimes that happens, ASE....when you have a cyclical company like GM or a high-flyer like a Tech or Internet company, you MUST sell periodically. You can't be seduced by the mathematics of greedy wealth. I had a friend who worked for a big tech company. He made a few hundred thousand a year as a sales guy -- great income. He also got loads of cheap stock in the 1990's and then watched as the stock went up like 3,000%. He had a few million in stock and could probably have sold over half of it. Instead, he kept doing the math as to how much it would be worth in 2005 if it went up another 30-40% a year from the 1999 and early-2000 levels. So he never sold a share. And then watched it plunge about 85% from peak-to-trough. And again, this wasn't a small tech or internet company, it was a big one, one of the Top 20 or Top 30 or so (at that time, late-1990's). My friend was lucky -- he didn't lose his job, just alot of paper wealth. But when you have both your job and your wealth tied up in the same company you MUST sell even if you leave $$$ on the table. Otherwise, you're doubling-down with both $$$ and a steady paycheck.[/QUOTE]
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