A Tesla $TSLA mistake: “Don’t try to catch a falling knife”
Posted By RichC on December 27, 2022
How many of us who have been trading stocks and investing for decades have ignored the wise advice about buying a stock as it drops? Chart watchers, and maybe investors who have favorite companies, often listen to the conflicting thought from brokers, financial advisors and TV talking heads. We ignore the lessons from our past and choose instead to follow favored corporate management or entrepreneurs and make the mistake of “trying to catch a falling knife” … or buying a stock as it drops.
Unfortunately I did the same last week, even knowing that year end tax loss selling was probably going to make things worse and ignoring the sage. I instead opted to use my Twitter $TWTR profit from Elon Musk’s crazy social media company buy and reinvested it in another Elon Musk company: Tesla $TSLA. Ugh, now I’m paying for not heeding the “falling knife” advice.
Will I now have to wait for Apple or Google to want a “real” car company?
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