Tuesday, April 25, 2006

An example of not knowing when to fold'em: Xerox

What a bummer... I was really close to selling my shares of Xerox the other day, but I decided not to. I first bought it on advice from a friend-- not a real insider tip or anything but she had heard some good things about what was going on with the company from other investors she works with, and from what basic-level research I could do on my own, I didn't see any glaring reason not to buy it, so I decided to give it a whirl with 75 shares. It's been up and down ever since-- it wasn't a disastrous purchase by any means but it just didn't really seem like it was going anywhere. When I considered selling it the other day, I think it was up about 7% from when I bought in July 2004. Then, boom, they announced all these disappointing results and the price plummeted about 5% just yesterday, and it's down a little more today. I'm still ahead, but by less than 2%.
Oh well. Those are the breaks, I guess.

No comments: