Ah... back then. I remember it all too well.
The main reason I didn’t sell in early 2000 was that I didn’t want to lose a big chunk of those profits to short-term capital gains. As it slowly dropped during 2000-2001, there remained the hope of Nasdaq and new business to stabilize the share price. Besides, I was still well in the black and in no big hurry to take profits. After 9/11, there was no more black to play with and it became all about getting out of the red - which never did happen. In retrospect, I guess I should have just paid the government their share (ha!)... but who knew?
Today it’s an entirely different situation. I hold more than ten times what I had back in 2000, about half is long-term, and my average is now comfortably below $1/share.
Perhaps we’ll get another chance to make the kind of money that could have been made back in 2000 if we were only a little wiser. Perhaps even more this time around? Let’s hope so.
- Sinkman
