I'm curious for a show of hands. Approximately how many times in your investing career have you made a mistake of this size? That is: how many times did you intend to place an important order, for thousands of dollars worth of an investment, and mistakenly place an order for the wrong thing? For example, get to a screen saying [Cancel] [Confirm], think to yourself, "oops, cancel" and press "confirm" for absolutely no explicable reason other than a brain fart? Or (my personal example) mean to invest in Vanguard Total International Stock Index, run down the list of mutual funds alphabetically by name, get to "FSTE All-World Ex-US Index" [Just noticed unintentional typo in FTSE and am leaving it in] and think "hmmm, I guess that must be it" and buy VFWIX instead of VGTSX?cashout wrote:So I recently opened a Roth IRA at Vanguard and inadvertently invested 5k in VGTSX instead of VTSMX,
If it was in pre-Web days and you were talking to a broker on a phone and your eyes sort of glazed over as he was reeling off bond coupon and discount rates or something, and you basically said, "whatever," i.e. placed an order without being absolutely 100% certain exactly what you were buying--didn't make a written note as you were talking on the phone--that counts.
If it was at a brokerage that allows you to "attempt to cancel" an order that has actually been placed (e.g. Fidelity), and you mistakenly placed an order and successfully cancelled it, that counts.