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.

1 comment:

Ashok said...

Well, if you didn't already know when you would have sold the stock, i.e. will sell after so much profit or so much loss, then you re still emotional investor:P