We all have regrets, actions taken or not taken, errors of omission or commission. My biggest financial blunder involves Apple. In the early 90’s I bought 25 shares at $66. I don’t know if Steve Jobs had left the company at the time, but he soon did, and the stock gradually tumbled all the way to $10. It rallied back to $30, then fell to $25. Assuming it wouldn’t go much higher, I sold. Jobs returned to the company and a year or so later the IPOD was introduced, and the climb was steady and spectacular, fueled by products the public embraced, including the IPHONE and the IPAD. I lost about a grand on the trade, not a big deal measured against a lifetime, but I missed out on the opportunity to make a significant amount, ten thou, I’d guess, still chickenfeed compared to a lot of folks, even amateur traders, but not to me. The odd thing is I’ve been a buy and hold trader. There are several other stocks I could have unloaded and did not. Why did I choose to sell Apple? Dumbbell, I say to myself whenever I spot the famous logo. On Friday the stock split seven to one, and I faced a new quandary: Do I buy? Is there some kind of karma that would keep an association with this great company from being a success for me? I’m sure that sounds silly. Also to be considered -- Jobs' passing. Will the innovations keep coming or will they disappear as they did the previous time he wasn’t involved? This time the risk is greater. I decided to place a buy order for 100 shares at 100, even though I expect the overall market to make a huge correction on the downside in the near future. But I’ve been anticipating that for a few years and it has not come to pass and may not come as long as interest rates remain so low. Where else in this sluggish economy can people score large returns other than in stock and real estate investments? How I long for the days when interest on a bank account was 4%, and 7-10% on long term CDs. When young people ask me for advice, I always say: “No risk, no reward.” At least I’m practicing what I preach. Attention short players -- this may signal a potential killing.
Artists also must take chances. Fortunately, the consequences aren't dire. A writer on the bottom rung of the literary ladder must risk making a fool of himself each day he takes to the street to promote his work. When I left the house today at eleven, it was drizzling. By the time I completed a few chores, the rain had stopped. The sky was ominous, however. I had a choice to make: go home and read all afternoon or take a limited edition of the floating book shop to the viaduct. I fought off the sense of futility, which was even greater than usual, and set out. The task seem even more foolish when I arrived and heard the drilling of two jackhammers. A crew was at work on East 15th, tearing up the cement along the Bank of America. As expected, no one stopped for the first hour and a half. Then a young woman, perhaps 20, gazed over her shoulder as she waited for the light to change. Fortunately, I was wearing a sign around my neck, figuring I needed all the help I could get to attract attention this day. Katia approached and asked about my books. She said she preferred sci-fi-type fare, and I recommended A Hitch in Twilight, telling her the first story is set in Brighton Beach and the last in Sheepshead Bay, and I had her. When I asked if she wanted it signed, her bright blue eyes widened and a sunny smile broke out on her beautiful face. Concentrating intently, I somehow heard her spell out her name above the noise. The experience was at once thrilling and humbling. I don't know why I'm so lucky. I guess applying oneself continuously simply yields an occasional positive result. That sense of futility must always be fought. Thank you, young lady.
Vic's 4th Novel: http://tinyurl.com/bszwlxh
Vic's 3rd Novel: http://tinyurl.com/7e9jty3
Vic's Website: http://members.tripod.com/vic_fortezza/Literature/
Vic's Short Story Collection (Print or Kindle): http://www.tiny.cc/Oycgb
Vic's 2nd Novel: http://tinyurl.com/6b86st6
Vic's 1st Novel: http://tiny.cc/94t5h
Vic's Horror Screenplay on Kindle: http://tinyurl.com/cyckn3
Vic's Rom-Com Screenplay on Kindle: http://tinyurl.com/kny5llp
Vic’s Short Story on Kindle: http://tinyurl.com/k95k3nx
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