Look, nobody said investing in the market is fool proof or easy. What has been your return in BBK since the merger with SNB? How about a 400% increase. Not too shabby. Do you need that 401K $$ right now? Probably not. Life is too short to worry about this kind of stuff. It's only money for heavens sake!
Easy for me to say, you might ask? Well sure, I sold at $72 (36 post split) so what do I care. I wish - I'm still long BBK and think that's a relatively good place to be if I want to be in financial services stocks, which I do. This industry will out perform the market over the next 5 years - guaranteed (you can't really find out who I am, can you?) Well, if I can't guaranty it for you, at least my money is where my mouth is - in BBK.
If you really are that uncomfortable, sell and go to cash. You will either look like a brilliant investor when you buy back in at 20 and it hits 38 next year or you will have gained piece of mind in cash. But readum, you sound like a pretty savy investor, why are you whinning now? You loved this stock just a few short months ago. Hang in there - it won't let you down (any more than any other stock might, at least!)
I agree with most of your note to Mr. Readum. Except. did you sell all of your BBT? I would love to know what you invested that money in.
Not to be sarcastic, but thats the trouble with some young investors. They got a good thing going, they read money magazine that says take profits, and then they blow it on a tech stock or something goofy like that. (ok, with the exception of intel, ms).
I have a pretty good system. I buy something I like, hold on to it, and then buy more even as it goes up. I like stocks in companies with a real past, and ones with a dividedn. I like smart managers like Allison.
Have I been wrong? Oh you bet! I bought a healthcare company years ago that supposedly had a cure for cancer. I thought the misses was going to leave me over that debacle....
My problems coping are with the market in general and the fact that I am too heavily weighted in stock. I love BBK but fear that the overall market will take it down regardless of how well they do business. Yes, long-term it should do great, but unfortunately I feel whipsawed right now. I have no other assets to pour in to the breach if BBK were to fall further.
The simple answer would be to sell a portion (half?) and buy partial peace of mind. But the memories of the great past performance and the potential makes that a difficult choice. No more whining though. I am a big boy and will just have to live with my choices.