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American Express Company Message Board

  • bribeavis bribeavis Oct 9, 2008 11:06 AM Flag

    Lesson Learned

    After 9/11 I invested a chunk of cash in two stocks. I put 85% into AXP at $27 and %15 into HANS at .43 cents(adjusted for splits). I sold HANS in 2006 at $49, and sold AXP last month at $38. The bottom line is that small companies can have big moves as Peter Lynch preaches. Buffet has said many times that the way to get rich is to do what he does, but with smaller companies. I'm gonna try to follow his advice this time instead of copying his stock picks.

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    • You were wise to pickup AXP at $27, however, you should have hit the cash register when the stock was north of $60.

      I'm amazed that you hit the very bottom of the last cycle. I sat on my hands last time and missed a great opportunity!

      Party on!

      • 1 Reply to Scamp_Ut
      • Yep. Would've been cool to cash out at $60. I think we're getting close to a bottom for many smallcaps and midcap stocks. Many of the big name DJI stocks were bid up with high P/Es due to an influx of 401K money IMHO, so we may see another 10% - 15% pull back. But if I was really smart, I would've sold AXP at $60, so take my advice with a grain of salt. :-)
        BTW, for what it's worth, I think AXP will be OK and pull through this mess eventually.

        Good luck.
        ---Beavis

 
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