dhodson wrote:Whole life
I learned how to value professional advice which is to say be skeptical of any non boglehead idea.
hoppy08520 wrote:My worst investment was Legg Mason Value Trust - LMVTX, which puts me in a very large club of other people who lost a lot of money with this investment.
This is one of the most notorious mutual funds, and it's brought up in virtually any argument in favor of mutual funds and against actively-managed funds. Google LMVTX or "Bill Miller" (the fund manager) and you'll read plenty about it.
Not only did I lose money on the investment, but I paid a sales load to the broker (who was also my 401(k) administrator at work) who sold me on it. I had no idea what I was doing.
On the bright side, the losses weren't big. I probably only put $3,000 to $5,000 in the fund. If I had put it into a total market index fund, maybe I'd be up another $1,000. So I didn't lose my shirt, but it was painful nonetheless.
And the bitter experience I had with this investment was what motivated me to learn more about investing...which eventually led me to discover indexing and Bogleheads. Today I have a much better portfolio, and ironically I can thank Bill Miller for that.
What year did you invest?hoppy08520 wrote:My worst investment was Legg Mason Value Trust - LMVTX, which puts me in a very large club of other people who lost a lot of money with this investment.
jimmy wrote:I figured this is a good forum to learn from others mistakes.. What was your worst investment and what did you learn from it?
arthurdawg wrote:Prime Money Market... dang thing has earned me 10 cents in the past few years!!
Now that I am retired, I've had more time to read, surf the net, and dabble in the stock market (the latter with mixed results, until I discovered why, below). (The next paragraph cites several "gold bug" books and web sites on hyperinflation, supercycles, etc. )
Right now, I'm taking every dollar of my savings and investing in silver (90%) and gold (10%), because I believe with the coming US dollar collapse my savings will become worthless if left in US dollars. To ensure my precious metals are safe, I have done extra due diligence on potential gold/silver institutions... (investing 1/3 in each of these three)
1) silver coins (American Eagle one ounce), bought from Goldsilver.com, and stored in a Brinks vault in another state.
2) Sprott Physical Silver (PSLV), bought through my brokerage account.
3) digital silver and gold, purchased from and stored by GoldMoney.com located in Jersey, The British Channel Islands,
Professor Emeritus wrote:Worst investment DECISION was holding on to COMPAQ as it sank. Compaq was the first and only individual stock investment I ever made. I owned the machines and I thought they were fabulous. I made real money on the stock. I failed to watch as they fell further and further behind. Finally sold the stock at 25% of the peak. Proceeds now in Vanguard.
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