Earlier last month, I recommended highlythat everyone buy a stock that was at a $1 at the time ($1.02 to be specific). Genworth Financial (GNW) was hammered down from the $30 range down to less than a dollar and looked VERY risky at the time. I was SOOOOO sure of it at the time that I bought. However, it fluctuated so much that I shook in my own boots. I jumped in and out of it and ended up losing money actually. However, if I would of just bought and stayed in it for less than a month, I would of increased my portfolio 236%!!!
Why didn’t I just sit on it? I probably would of sold thinking it had maxed out a day or two ago, but I would of at least doubled my money at least. Why can’t I listen to my own advice?
So, what are my thoughts now — since I’m basically acting like a guru now? Well, I can’t say since the market’s run up a bit since November 20th which at this point, I’m really thinking was the bottom of the stock market for at least for some time. However, I’ve bought two companies: Yahoo & Nexen on the speculation that either one will be gobbled up. I may be riding the bandwagon on these two though — so I may be on the wrong side of the investment later, but they seem like they both have relatively decent businesses moving forward regardless. However, I’m hoping they do get bought & double at least in the next 3-6 months.
How about Genworth? Well, I’m a little afraid that the recent run up is going to get potentially hit downward possibly in the next few weeks or possibly stabilize, but there is definitely the possibility of it continuing back up to possibly even $10 or so if Hartford Financial’s news indicates the trend of Insurance companies for the next 6 months or so.