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3 Investing Mistakes to Avoid | Phil Town
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- เผยแพร่เมื่อ 15 ส.ค. 2024
- You may hit some roadblocks on your way to becoming a successful investor. But the goal is to become so knowledgable and certain that you're investing in the right companies, that you never lose money. Today, I discuss market mistakes to avoid and how I learned from them. bit.ly/3gdNUPD
If you need another resource that will help you stay on course during your investing journey, download my 10 Do's and Don'ts of Successful Investing Guide. Click the link above to download!
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Time Stamps
00:00 - Intro
00:29 - Personal failures
01:27 - NeXT Computer
07:15 - Lesson from NeXT Computer
07:41 - Chipotle
09:00 - Lesson from Chipotle
09:54 - Why debt is deadly
11:08 - Horsehead Corporation
11:26 - Lesson from debt
13:00 - Question
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how to invest, investing mistakes, investing experience, stock market mistakes, stock mistakes, analyzing stocks, money mistakes
Have you ever made an investment that you shouldn’t have? What did you learn from it? Leave a comment below.
If you need another resource that will help you stay on course during your investing journey, download my 10 Do's and Don'ts of Successful Investing Guide: bit.ly/3gdNUPD
Hey Phil. I have read your book and can see that you have online calculators. For the life of me I cannot find the 10 year records for a business using MSN and Yahoo. Is there a site that can allow me to calculate the Rule1 scores and I do not mind to pay. Then I can spend my time studying great companies non-financials e.g.. CEO etc.
Phil Town's Rule #1 Investing Thank you for all your videos and the information that you provided us they are very helpful. So far what I learned....1.Educate yourself finding a seminar and a good mentor. 2.Don’t try to get rich overnight buying hot stocks and loosing all your money. 3. Find a solid company. 4. Must have a plan before buying the stock when to get out. 5. Buy long term is better. 6. Keep some money in your account, so when you see an opportunity that a GOOD stock decreases in price you are ready with your cash to get more. ( Apple went from $388 to $355 and by the end of the week $425) 7. You must work on your feelings (yoga, meditation and positive thinking). 8. Pay attention to the news.
In 5 months of trading only stocks I lost small amount compared to what I made. “The intelligent learns from his mistakes and the wiser learns from the mistakes of others”
I’ll try to be wiser....
I got caught up in the dot com bubble, took $40K to over $800K, only to give it back plus another $200K. I thought I was smarter than the market, pride got me. I have been taking your course and it's change the way I look at companies, do your homework. Thanks for sharing, Ken
I bought some Amazon in 1999 - and sold it in 2006. They hadn't been making any profit at that point - so I figured they never would. More recently (after reading Rule#1 and Payback Time in 2010), I stockpiled Netflix below $100/sh (as low as $65 / share and up to $80 / share). A few years later (2013?) sold it all at $325 / share because I felt they were taking on too much debt. Of course, it shot up to $700; split 7:1; and is now at $450.
@@WISERandHAPPIER I get those numbers from the companies' SEC filings which you can find by going to the investor relations pages on their websites. The fastest, most convenient way, though, is to pay for Phil's "toolbox" www.ruleoneinvesting.com/toolbox/ . You may want to attend one of his 3-day workshops. Its well worth the time. (Those books were written over 10 years ago - so many of the resources he refers are out of date or gone.)
Great video Phil! You either win or you learn, you only fail if you quit 😀
I’m a new investor. I don’t think I’ve made any mistakes yet, but I’m sure I will eventually. We have to make mistakes in order to learn from them!
$22M Next Computing Mistake
- Make sure there is a long history of data to reference
Chipotle
- Don't be in a hurry to unload an undervalued company
Horsehead Corporation (Zinc Recycling)
- 3 different companies under 1 umbrella
- 1 Company alone accumulated debt and management kept hiding the over-leverage
Be Careful when debt is being added
Be Sure the management team has integrity
Phil you may lose the battle, but you will win the war. Failing is learning.
Absolutely true! Well said.
My big mistake was investing in a frac sand company called Hi-Crush. It was in debt, but I reasoned that the frac sand / oil business would come back from its current lows. Turns out, just a couple weeks after my investment, the company filed for Ch. 11...What I've learned is that the management is more important than any of the other four M's, and any potential upward industry or market trends should not mask the detrimental effects of having a bad team. I lost a couple grand, but now I have learned to vet the management more thoroughly in the future!
‘Experience is the best teacher’ you said that in one of your clips a year or two ago Phil. That sentence has stuck with me, all the way from Sydney
Great video Phil, I’ve learned two lessons so far these past 6 months. Don’t buy in to early and don’t buy when emotional about where you think the market is going.
My biggest mistake happened very early in my journey. I took my eyes off of the rules. I saw the big shiny object of high returns and got suckered in because of the emotion. The rules of investing are very simply, but managing your psychology and behavior is truly challenging. #patience
Investing mistake ? Chasing yield buying UK Coop Pref shares yielding 8%+ at the time - looked at the business again a few weeks later & sold at a small loss after accepting I hadn't done enough homework to understand the business well enough - valuable lesson.
My investment mistake was trying to time the market. Very difficult to do. Now I just drip feed. You've inspired me to create my own educational channel too!
Investing in the cannabis sector, and continuing to throw my money into these stocks over the last 2 yrs in an attempt to "buy myself" out of them. I didn't want to listen to the professionals who were pointing out all the giant red flags because I got caught up in the hype. Unfortunately it took me a while to listen to them and to actually delve into the financial statements of these companies for me to have an epiphany that I was gambling (not investing) and relying on emotions (not facts/financial numbers). I finally cut my losses in most of my pot investments (lossess exceeding $70,000), and sure enough most of the stocks I sold off have done very well since I dumped them (that's Emotional Rule of Investing for you). The lessons I learned have been valuable, it really forced me to learn about investing over the past 6 months (and Ive had plenty of time, as I lost my job as a pilot due to the crisis). It's the anger of losing so much and being so disappointed in myself that brought me to this page and to studying professionals, such as yourself, Warren Buffet, Charlie Munger, etc. It's something I shouldve done from the very beginning.
Did one really meaningful mistake: with horsehead holdings. Followed Phil's advice because he talked about it. But unfortunately did not my homework. Had (not a bad but) a strange feeling about this investment. And lost about 25-30% of my depot. Never did such a mistake again. Never lost anything close of that again until now. Hope that stay's that way.
Don't follow blindly anybody. Just do your own work on every investment and make your own decisions!
Hey Phil, thank you for referencing Horsehead Holdings. I went to your seminar back in 2015 when you pounded the table on this company. I followed you into that mess without doing enough of my own research. That has been one of my biggest lessons learned to date.
I really enjoyed this one. I hear often about what TO do, but not the other side of the coin. I’ve listened to you and Danielle for three or four years now and read Invested and FINALLY made my first investment a couple of weeks ago. It felt great! Thanks so much!
Thanks Phil. I’ve always looked up you and your advice. You and a very few others have changed my life in a big way. Thank you so much for your teachings!
Everyone buys into stocks that are going to fail, that's almost inevitable, but debt truly is the demon of it all.
The key to keeping your riches is to act as if you were poor!
1. Bought a very profitable refinery company share with very low P/E. Later I found that government is moving away from furnace oil in hard way. In next year company was in loss.
2. Taking huge leverage on revenge trading. (biggest loss ever)
Thanks so much for sharing your wisdom so freely. You sir are a blessing! I loved your workshop last January.
Sold early. The most common mistake.
Biggest Mistakes - Akin to Phil's Lesson 1 - I invested in a company who develops and uses Blockchain technology (i.e. the technology behind crypto currency). They were way too new to have any real history. I got caught up on the hype--not good research! Now, 2-1/2 years later, I'm still waiting just to break even after their value dropped almost 90%!! Lesson 2 - I invested in another--but much better established--company who uses blockchain technology. The stock was up and down for 2 years--mostly down. I finally divested at about $25 per share when they finally started climbing up. I was happy to earn a slim 3.5% per year when I sold at $25...two months later, they are at $88. That one hurt.
My biggest mistakes where selling my winner (too early). I have done it a few times with Nike, Apple, Mastercard and Google. I have learned my lesson and have been doing much better. I think it was Peter Lynch who said “Selling your winners and holding your losers is like cutting the flowers and watering the weeds“
Thanks for sharing this great video with us Phil , It was great to hear your mistakes about your investment for the first time , I've heard from one of my friend who saw Steve jobs in person that he was cursing employees when things was not in his way, I can totally feel why you were expecting apology after your effort ! Being Genius or inventor shouldn't give anyone any kind of right to do not behave respectfully .
Aurora Cannabis stock, got smoked but it taught me to focus on educating myself so I am not making speculative investments. Expensive education tho ouch!
One word - Wirecard. Learnings? If there are negative rumors all over the place, then probably there is some truth in them. Also got confirmation again on the importance of diversification.
You learn way more from your mistakes than your victories. Great video.
My worst and costliest mistakes were listening to someone else’s recommendations of stock to buy. But that led me to learning investing for myself from Phil, which was the best thing I have ever done!
My personal biggest screw up was swing trading, though I could out preform the market
Any kind of short term "trading" really. You're up against algorithms and market makers who can pin the stock where they want it. I mean look at Tesla today! Forgettaboutit! Also: amateur/casual investors trading on margin.
I don't follow - why was swing trading a mistake if you outperformed the market?
I bought some shares of Nvidia at $155 and sold at $180, mainly because I got lucky and didn’t really know what I was doing... this is before I found Uncle Phil of course. I still cry a little when I look at Nvidia’s current price.
To own your mistakes and tell them to the world shows character and you my friend have a great character. It’s always a pleasure to see your videos and listen to your amazing advices
*Great tips! I sold Netflix at $31 and meant to buy it back but never did.* 😭
I sold Tesla at 260$.. 130 of them and never bought them again :)
Don't worry. From what I've seen Netflix is costing itself money just to operate (negative operating cash flow) and it's only going downhill.
I wish I can buy Netflix at that price but it impossible .
I missed out on Apple at 30$ and Netflix at 25-30$ I thump myself all the time. I learned a valuable lesson always have cash to buy on opportunities like a hungry lion to pounce. Never overspend your income.
Found out about and read up on Bitcoin when it was at 0,2$/bc. Saw that it had great potential and decided i would put in 3k $. But it was such a hassle to start up an account so i put it off for a week. And another week. And another. I spent my time playing games instead. When i finally got around to it, bc was at 90$+. I still made good profit, but that 0,2 -> 90$ is a percentage that would have made me more than everything that happened afterwards. And i was fairly certain bc would reach 10k eventually.
So, this time i will be forcing myself to jump on investements as soon as i find them "a sure thing", and not put it off for months.
Thanks Phil!--invaluable lessons for all rulers.
Thank you for your honesty and helping your fellow man with your financially painful experiences.
Thanks for sharing this lessons and stories Phil. Its amazing.
My most significant investment errors have revolved around the concepts of “taking profits,” “locking in my gains,” or “averaging down”. After years of using this approach, I’ve suffered through terrible returns amd negative consequences to my portfolio:
Incurring capital gains rather than deferring them.
Divesting capital from my best performing companies.
Sinking more capital into my poorest performing companies.
I have lost so much money with these principles. There may be fundamentally sound reasons why a stock has performed well, produced the gains you sought, and remains poised for even more gains. There may be fundamentally sound reasons why a stock has shed value, trades even lower, and may never achieve your target. It is sometimes the right thing to do in blackjack to double down, when you have a quality hand against a weak house. Investing more capital only makes sense if your evaluation finds the stock is fundamentally undervalued and the value proposition remains compelling.
What would you do differently 🤔
Thomas Downer hold on to my strongest companies and dump my weakest. It has absolutely changed the game for my investing strategy. Minimal capital gains incurred. Smaller losses. Just a sometimes bumpy but significant appreciation in capital of my best quality picks.
It’s an ownership mindset rather than a trading mindset.
*I lost everything I had but I will will learn from my mistakes*
Moral of the story, listen to Phil Fischer, there is no reason to sell an amazing company just because of it hovering above the intrinsic value. A very good business is better than the cash equivalent of its value MOST times. WFC is my biggest investing mistake to date, and trying to time when to sell in and out of TSLA
Luckin coffee..... got in at 24 and luckily sold out when I saw it at around 4 or 6 dollars before it dropped further
A downstream oil company Pilipinas Shell. I bought it because I was attracted to the div yield.... w/o further research about the risk that it can be affected by global factors.. I bought from 49 to 18. Damn on the negative oil prices back in April. Never heard of that. Starting May they shut down their refining plant and just imported fuel to save cost. They said their refining margins is already negative so their is no point doing the refining themselves. They have 1126 gas station of the moment and planned before to add 50 every year (except maybe this year as they are really saving cash) But I still keep buying though I still believe there is not much car here in the philippines (12m cars out of 70m people age 15-65) and I like that they've been here for 106 years. I dont think we will be changing to electric cars in the future. Electricity is expensive in the Philippines still. Government has been active on infrastructure, thousands of km of roads were just freshly created in 4 years of administration. Imagine how many more gas station will be built on that. 27% premium fuel penetration. Top 2 in market share after Petron (I dont like petron to much debt). Even we had a martial law before in 1980's they stayed. I like the company but I think I have priced it too high at 65.
Jc penny was trading in a range of 6-13 like 3 times in a row for a year, so I tried trading it to double my money and the 4th time it went to 72 cents when I sold and even lower. Gf.
One of your best videos, and I’ve seen many over the yrs.
I am very new to investing, and I started by barely even dipping my toes in the water (I'd a buy a couple of shares here and there, but that was it.) I bought into Novavax back in October when it was around $4.80ish a share because it was cheap and I thought their flu vaccine products had potential, but it was speculation on my part, so I didn't. Now, thanks largely to their work on a potential Covid-19 vaccine (and continued flu vaccine work), their shares are worth almost $144 each...and I only own two shares.
I still believe that speculation is a poor way to go, and that my logic was sound...but it still hurts when you realize you missed a great opportunity, even if was just mostly luck that would have gotten you there instead of actual knowledge.
I like your insights, Chris.
Thanks for the great advice
Wow Phil was in with Steve jobs back in the day at Next? That’s incredible
Yes, back when you called up your biggest investor to see if he could do your company’s sales calls.
Thank you so much teacher
Hi Phil, another great presentation. Thank you. What have I learned from my mistakes? There has been a few but what I’ve learned the most is that you have to truely understand the business you are investing in. It’s not a guarantee for success but it’s a great first step. Greetings from Down Under. Rob
Thanks for sharing!
What a lame comment.
Thank you Phil, those are some valuable life lessons. The work that you do in teaching Rule 1 investing is inspiring. Your books are amazing and have taught me so much. Keep up the amazing work! 🙏👍🏼
Thank you 🥀🖤
Thanks for the insight about debt growing as a company deals with some event. I'm relatively new at this and had not thought about keeping an eye on that factor over time. Always enjoy hearing and really listening to your honest take/insight on investing. Am a solid fan. Just gotta do the work :)
You said you sold off companies way too early. I sold off a few of them just lately with what I thought were way over their intrinsic value. What do I look for and do to prevent it?
I am interested how average investor can judge management. This is one of the most, if not THE most imporant thing in all the busienesses. Phil Fisher writes about it everywhere, Warren Buffett talks about it every time - integrity of management. But HOW can we judge? Average investor won't be able to scuttlebutt and meet with management. Documentation - where, which one? 10k will show certain directions to look but what exactly? What kind of information can we use to evaluate if management is honest team or rather bunch of idiots (or worse, crooks)
Thanks for the insight! Currently enjoying reading Invested, at chapter 6 right now :) I'm interested in your viewpoint regarding the recent news about the Q2 GDP.
Awesome. 👏🏼 Keep learning!
Thanks you Mr. Phil town Your educating a lot of us. Am writing from Somalia. Am an American-Somalian.
What role should retained earnings play when am buying a company's stock?
Thank you for the educational videos. Where do you invest nowadays and what do you think about current market?
I studied OLLI, was not sure about the long term future, so did not bought at $30, now shot up to $100......
Thanks for sharing Phil!! Live and learn!!
Glad you found it useful. Thanks for watching!
4. Not investing in Bitcoin and Monetary System 2.0
Always looking forward to the next video. This channel has helped me with both the knowledge and the mindset for investing.
worst investing mistake i did was thinking I could get away with buying stocks solely on Technical Analysis / Charts regardless of the fundamentals.
Lost a lot of money during the first few years of my investing
I made that mistake when I first attempted Forex trading.
Thank you sir for sharing your experience with the world. Watching from Nigeria
Hexo was my bad choice. But live and learn
Great story, Steve kicked you out!
Amazing story 😜
Why sell Chipotle, When buy and hold is preached if there is no change in the company's competitive advantage or some issue with the management, why sell?
Love your videos Phil! Thank you so much for sharing!
So amazing to learn from you! Love the content, Thanks Phil!
What to do when current price vs price target keeps going up? i.e. I was waiting for Apple to hit low 300s but now its about to do a 4 to q split.
Hello Phi! Idk if you remember me but I learned stocks from you since Jan 2020 I suppose it was the right time, becuz the March Drop was like the best ‘Margin of Safety’ price you taught :) now I triple my investment I’m like ok now I need to learn the taxes if I do decide to sell or what do we do when we profit lol
Why not, is it possible, to put in a trailing stop to protect your upside?
great video,thanks
I love this, share more of your experience like this please
Lesson 3, stock symbol RDS.A
Investing $4500 on an marijuana ETF where its now worth $2200
Hi Phil great content
Great to hear the lessons learned!
I didn't quite get the third mistake he talked about, it would be great if someone could please explain it. Please, if anyone understood the third mistake he said, please share.
20 chipotle stock
@Phill If you ever come to Atlanta let me take you to Rumi’s Kitchen I owe you a great meal for watching all your videos for free.
*Pretty cool story*
Throw all your money in TSLA!
Too late now!
@@hectorvalen2876 It is never too late but now is not the time.
It’s gonna go down a bit or sideways for a few months...wait on TSLA.
@@Son-of-Krypton I was joking
WFC a few months ago, painful!
Great video!
AT&T is looking like my worst one so far, that debt seems massive aswell
Nothing very bad has happened to AT&T so far. No need to call buying it a big mistake.
Great video, Phil.
22 millions dollars mistake Phil!! Wow
NeXT was too early to the party.
So you get your hands dirty with derivatives too. Can you make a video about your thoughts on those instruments? Thanks.
Wow I'm early. Would the bad experience with NeXT keep you shy from investing tech companies in the future?
I went down with you on Horsehead.
Great stories and tips!!!
CMG *$1,185 July 22nd*
When it's too good to be true it certainly is.
Awesome great numbers, a company in a major index. It is a huge scam and I ignored several red flags. This won't happen to me again.
Please what company??
@@julhe8743 Wirecard AG
Philipp Richardt thank you.
Phil, please invest in a good camera.
Of course, Phil could have moved the product over to the Mac. It would have been really low effort to retarget the software. I think the real mistake was cutting bait.
You mentioned the "Collar" option strategy on your podcast once. Would that have been the right move on Chipotle instead of selling in this case?
No, a collar protects your downside (buying a put) in return for giving up the upside (selling a call).
@@mmorrisprods Which could've given Phil some peace of mind to keep his position a while longer. Sure if it expires above the Call then you'd sell anyway, but if it doesn't you can open a new Collar and keep riding it, right?
Wow...Mr. Phil, Steve Jobs is savage😬😬😬
chipotle is 1500 now
Waiting too long to start.
Not investing enough when you have the resources.
Buying (and selling) based on emotion.
i lost a lot of money on Horseshoe