Friday, July 31, 2009

Tides are changing

Indeed. Yesterday was the first glimpse of my attitude changing. I was an emotional investor who believed that no-matter-what, the stocks in which i invest will surely give me returns when i needed. All i did was buy and buy and buy. But never sell. I didn't want to pay the govt 10% (from this year its 15%) captial gains tax by selling profit. For the all greedy investors, paying off the 10% tax is more logical than hold on for 1 year and lose 50% principal. The Stock market is moving because of the FIIs and the traders. Investors are the ones who are the lame ducks in the market. I held on to my stocks when in Jan 2008 the markets peaked . Even though the profits were there, i didn't cash. I wanted to be an investor who stayed invested during bad times than exiting. I paid heavy price. All i learnt was, get what you want and then throw the bledy stocks. As long as you are selling it for profit, you should be happy. I did chuck out some shares (which went on to gain a little at the end of trading :D).
There are many more areas where my attitude is simple and reasonable, i think it needs to change. Time to cash in. I am sick of making a fool out of myself by giving silly reasons.