Investments in Apple, Chipotle, and Microsoft
I kept investing in individual stocks.
I owned a large position in $Chipotle Mexican Grill(CMG)$ in 2007 and sold it in 2008.
I bought $Apple(AAPL)$ and Las Vegas Sands days before the market bottomed in 2009, only to sell both within a few years.
And I bought $Microsoft(MSFT)$ when it was cheap in 2012 only to sell when I had doubled my money.
I bought the right stocks.
But I didn’t hold onto them, so I didn’t generate asymmetric returns.
In each case, the businesses weren’t broken, but I was blinded by a distraction like “I’m already up 100%” or my favorite, “Apple is the biggest company in the world, how much bigger can it get?”
That logic was dumb.
I’ll get to the frameworks that came out of these mistakes on Sunday, but this should give you an idea of why I err on the side of not selling stocks.
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