lucky13
lucky13
Joined: Nov 1, 2009
  • Threads: 8
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December 24th, 2009 at 9:58:49 AM permalink
Quote: MrPapagiorgio

... or biggest regret you've had in your gambling career?



While not necessarily gambling (although many argue otherwise), my father owned $25,000 worth of Apple stock in the mid-80's. I was sure it was just a fad, and convinced him to sell with a small profit. That position would be worth well over $2mm now. He makes a point of reminding me about it all the time.
odiousgambit
odiousgambit
Joined: Nov 9, 2009
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December 24th, 2009 at 2:32:18 PM permalink
Quote: lucky13

While not necessarily gambling (although many argue otherwise), my father owned $25,000 worth of Apple stock in the mid-80's. I was sure it was just a fad, and convinced him to sell with a small profit. That position would be worth well over $2mm now. He makes a point of reminding me about it all the time.



If you mean he had Apple stock only, this is on the order of betting you will hit a flush, when you have 4 cards to a flush drawing one. You probably made the right play, and it does not prove you made the wrong play when you draw a card that does not make the flush.

If my assumption was correct, your Dad was in the position of those people at Enron who had all their retirement money in Enron stock. The professional advice is always to not put your eggs in one basket. Always!

If, however, he was actually well diversified, yeah, your call was a stinker.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder

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