ME..... Many moons and losses ago...! I too made foolish investments, falling in love with companies, the story, holding out to past riches, buying the sucker rumors of takeover, buying the sucker promises of great new products, blaming everyone but myself for the foolish investments, clamoring for that one piece of news that never came....The stock, was Jones Soda, and losses were plenty. But i learned, educated myself, and i stepped away, only to come back stronger. I am in no way comparing the two companies, but i made the same arguments/excuses for them and many in RIMM longs do for RIMM:
OHHH Pepsi, COKE, HANS, will buy JSDA (vs. amzn, msft,samsung, good)
OHHHH, great new every drink will rock (vs. ohhh playbook, playbook 2.o, QNX, BB10,etc)
Ohhhhh we have the greatest social media presence of all the big soft drink companies(vs. 75MM subs, that really not nearly as material contributor to earnings as it sounds)
OHHHHH we have no debt (same, wait until the write-offs continue and maybe, just maybe get hit with a loss, that 1B cash pile can erode in a matter of Q's)
ohhh we are going to expand into multiple distributors /markets (vs. QNX going into cars, India (unproven mkt) the world of possibilities are endless)
OHHH Founder / Mgmt was our problem, now ousted, now we have the right leadership to get us to the promise land (vs. ousting of coCEOs and appointment of HEINS.)
You get the picture, separate from these faulty arguments and just look around at what is happening, vastly eroding mkt share, shrinking margins, shrinking bread and butter customer base, losing relevance, aging (obsolete product models), perception of inferior tech/products, unproven new products, intense competition, poor strategy, lack of vision, fumbled execution, the list goes on,....The story does not look like it will end well, at least not right now. If this to successfully be turned around, that will take time. And until glimpses of that happening occur, the price will continue to fall, and that could be 6 to 18 months from now.....
Sorry for typos, but i am just keeping it real because I HAVE been there (i'm sure we all have held on to a dogg for way too long).
Ok starboy, give me my one star.....
Human brain is wired to see patterns. It helps us to quickly comprehend information without much processing. It is an optimization of cost/reward ratio really. This leaves us humans with a huge flaw; that we tend to see patterns even when they are not there.
I can guarantee you sir that your soda story has nothing to do with rim other than your pattern-seeking perception.
If I can save just one long from further torture then it will be worth it. Cut looses and get the hell out. Buy back at sub 5 and catch a wave up, make your $$$ back...for now, don't try to be a hero here. Not just me, platy of others here gave you sincere warnings...good luck
It is really a peculiar trait of investors that causes them to make bad decisions with their money. People would never think about throwing a few thousand dollars out into the street, yet when it comes to investing, there is a desire to not be wrong about a stock pick that allows people to hold on and become gullible for any tidbit of good news to prove that they made the correct pick. They will ignore the loss of thousands of dollars because that desire to not be wrong is so strong.
Perfect - typos and all.
Save LOVE for a human! Companies and stocks have faults - I'm not sure Mr. Cook loses sleep over it, but I'll bet he wishes that his products were not made in something akin to concentration camps - well, by "englightened" U.S. standards.
And for all that no 2 situations are identical, the inability to see faults in a beloved stock ... and the inability to see that "UNTIL NOW, I could point to X & Y as offsetting, to an acceptable degree, P & Q" might be followed by an honest admission of, "BUT NOW I see more clearly." ... means that you've got your car parked on the railroad tracks!
If there's an element of infatuation still in your heart, think about "taking a break" in your relationship.
Wouldn't you feel better about missing the blood in the streets that will accompany RIM's going from $13.6 to $12.1 or whatever?! ... and then coming back in, able to buy 15% more shares because you chose not to walk under the ladder?!
hey trade bloomberg had a guy on last month, had 5 picks, 1 was gm,rimm was another, i fogot his name but he was big on rimm, and he bought gn at 19 and change, again i've seen him many times on bloomberg,oh yeah he also picked pbct a conn. bank for the yield! any way as far as rimm i play with it, but on the correction this month i'll make it a hold, below 12-12.50, jmo! but i hear what your saying about jones soda! it gets down to your entry point! if your in at 20, bad news, if 12-13 better, along with stops! JMO
i ended recouping most of losses on jones a couple years later when it hit .40 and surged to $2+, then dumped that dogg...funny, that JSDA is back at .50 cents, wondering if i should go and try to finish what i started! Been short on RIMM for a while, so i have lots of runway if the off chance there is any type of squeeze or buyout materializes...However, I really doubt it!