Selling stocks, emotion, and potential loss of money

Does anyone else find it hard to sell stocks that they have researched, valued, and analyzed? Sometimes having spent weeks researching the company.

Normally I have had no problem with my selling decisions thus far.  However, almost all of them were the companies I bought when I first started and wasn’t doing the amount of research I am doing now.

I am finding it hard right now to sell Taseko Mines (TGB), even though I think I have found some other opportunities to put more money into.  All I think about when trying to decide whether to sell or not, is the potential it has if the New Prosperity Mine is approved in November and how that could enable me to make my money back.

I hate losing money and at this point I am down about 50% on this investment.  Remember I bought this before I started the valuation and research that I am doing now, and bought when it was way overvalued.

I know that this is considered speculation, and something I don’t really do now, but I would feel like a complete jackass if I sold now, only for the stock to go up a lot, which would lead to me making my money back.  That is if and when the Prosperity Mine is approved.

I guess the lesson of the day is that this is what I get for buying companies that are overvalued and that at the time I had not researched or valued properly.

Anyone who has any advice out there, it would be much appreciated if you could share that with me in this predicament.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s