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Federal National Mortgage Association Message Board

  • sleepio2332 sleepio2332 May 14, 2014 10:09 PM Flag

    Learn from MY MISTAKES people....

    I had 6640 shares at one point...5540 of FNMA and 1100 of FMCC....hearing everyone talk about their massive positions, I tried to 'flip' to get some free shares. I got screwed the first time and lost 200 shares of FNMA...I tried again...I lost 240 more shares of FNMA....and now have 5100 of FNMA.....desperate and trying to gain back some that I lost, I sold my 1100 of FMCC last week at $3.90.....well...you know how that worked out......so I now am sitting on 5100 shares FNMA...and $4,000 in cash which I will buy back in on ANY dip.....MORAL of the story?? First I suck and can't time anything.....second.....HOLD LONG!!! because losing shares isn't worth the few shares you MIGHT gain....I'm not afraid to admit I made a mistake....not because I am short or a basher...but because I got greedy......now it looks like I will lose a grand total of 650 shares or more... GL ALL!!

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    • I can guarantee if I tried it the stock would go straight north,,,,I tried it with GGP and it had big up moves so finally i said ,,,,,,,,,just hold ,,,,and you generate huge taxes if you are in a cash account,,,,,,

    • I own 5000 shares at way less then zero in the 60 cents less then zero range as far as a cost avg but would rather have the 30k shares I once owned and paid 50 cents for now...traders rarely win in the retail side but it is what it is...live and learn...be happy you have em and are still in this game.

    • Hey Sleeper....I am pulling for you pal. I started accumulating Freddie and Fannie back in 2008 and continued to buy both periodically over the last 6 years to the point where my dollar cost average per share is now 1.79. I am substantially invested in both FnF equal share amounts. It was difficult to stay pat over the last few years, but now it has paid off. If you can....think about this....that what you have put into Fannie and Freddie may all be lost and you will have to take long term capital losses at 3,000 per year. You are probably young enough to regain all that you lost through tax writeoffs. Or, pray tell, we may blow the top off this sucker and all end up rich.

    • Its good that you admit mistakes, and not blame your broker, your boss, your wife, or the people on the board from leading you amuck. Buffet admits his mistakes, and none of us have had his success. So, if he can admit his mistakes, why do we think we need to blame others? Our government should learn this valuable lesson and admit their mistakes and move on. Largely, however, they dont. They think you are seen as "weak" if you admit mistakes. Is Buffet "weak"? While I am upset with Buffet for more than one reason, he still deserves the title of "the worlds best investor"..ever. You will do well with your philosophy of admitting your mistakes and fixing them. You get a big thumbs up. Oh, and I have made MUCH MUCH bigger mistakes that cost me way more than "just" 650 shares of fannie. I bought fannie for more than $12.00 in July 08, after Hank Paulsen said it was sound and did not need capital. I learned, the hard way, not to trust "government officals" stock recommendations.

    • Thanks for being frank and I hope you do well from here on.

    • I bought back in years ago. Since then I have picked up more shares totaling 8000. I am not a stock trader but decided to learn the market years ago. I have watched this stock go up and down over the years. My break even price is $2.22. My hope is that one day my grandchildren will say my grandfather was a smart man to invest at the right time. I believe in this stock. I never invested more than I could lose but will drink a lot of beers if I lose. I do think my beer will be purchased and consumed on a positive note. Here is to all the longs. It does take some strength to stay with this stock. I have learned so much reading this board over the years. I have learned who to believe and not to believe. I will admit I am still learning. Brian

    • i did the same but was able to get 31,000 free shares so far. stay cool.

      Sentiment: Strong Buy

    • I bought back in 2009 ( for the 844th time ) and never sold. I have gone up and down every roller coaster ride since. I'm nauseated but never threw up. I gave up what you were trying to do about 15 years ago. It doesn't work for the minute gains you might expect. The odds are just not in your favor. I started a new position in Fannie about 2 weeks ago in a new account at $4. I plan not to sell. In 5 years from now that account will be at $50+.

      Sentiment: Strong Buy

    • I can feel that, and I have the opposite situation. I bought FMCC FNMA ~2, ~2+, 3+ 4+, 5+ and right before March 12 drop also, and then buy more after the drop ~3, and 3+ and some 4+. think back, I accumulated more shares because the drop maybe, I wanted to get free shares, but it is just not easy for me I guess, I paid every share and have not sold a share. I guess if someone holds shares today, probably believes more in FF than just worry tomorrow's vote result

    • Yup. I'm right there with you. I was in and out several dozen times over the last ten years. Some gain, some loss but net loss. Started in the thirty cent range. Managed to increase my average to 1.50 ish. Lord, i've learned a lot on this stock.

      Sentiment: Hold

 
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