ExxonMobil: No Brainer or Puzzler?
Tom Armistead submits:
Successful trades are boring – I keep notes in ACT! (a contact manager) for each buy/sell decision I make on stocks in my portfolio, two or three paragraphs to track what I was thinking at the time. My best trades don’t make good reading – an opening entry summarizing my initial impression and valuation, followed by two entries saying I bought it because it was cheap and sold it because it was fairly priced. In the meantime, there might be notes on analyst upgrades/downgrades or material events of one kind or another.
But my losing trades sometimes accumulate voluminous notes – repetitious analyses, observations of minutiae about market action, quarter after quarter of conference calls, strategic revisions in an effort to find a way to make money on the case, etc. Perhaps I should just set a cut-off figure, once I get over 7 (maybe 10) entries to just close the case out and go on to something else.
Investing, Long Term Investment, stock market | admin March 10, 2010
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