I bought in January at $466 (1000 shares).
This money was to go to my retirement and my daughter's college fund (Princeton, Class of 2010).
Should I cut my losses or does this company have a future?
Was that a serious question?
(1) If you can afford to spend half a million dollars to buy a stock
- either you've got loads of money and being down 30K or so should not be a big deal
- or, you're gambling.
(2) Buy options instead of stocks. Much safer (but proper education is required)
Just some learnings from my past...
Good luck. Hopefully you'll gain it all back and more pretty soon.
The stock will need to go up 30% just for you to break even. With slower growth projected, what do you think the chances are for that happening soon? Not much. Next time, use a stop-loss order.
If your daughter�s smart enough for Princeton you should have asked her advice before gambling on Google. Oh well, she�ll have to work her way through college. Can she say, �You want fries with that Big Mac�?
Out of state tuition at Princton is $33,000 per year. So you invested $466,000 in a high risk investment to fund an education that will cost you, roughly, less than $150,000, we'll even call it $200,000. Actually I think you're joking, if you put the $466,000 in a money market at 5% a year you would generate over $20,000 a year in interest. I think you're just having fun with the board. Princton - A good school in a great state.