How often have you goofed and placed an incorrect order?

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How often did you make a mistake and order many thousands of dollars' worth of the wrong investment?

Never.
14
64%
Once in my investing lifetime to date.
3
14%
Hardly ever (two or three times).
4
18%
Oh, every few years or so, several times per decade maybe.
1
5%
Probably once a year.
0
No votes
Happens all the time.
0
No votes
I don't know and I don't care.
0
No votes
Other.
0
No votes
I have accidentally bought BOND when I meant to buy BND but haven't ever noticed my mistake.
0
No votes
 
Total votes: 22

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nisiprius
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How often have you goofed and placed an incorrect order?

Post by nisiprius » Tue Mar 27, 2012 6:50 am

Inspired by cashout's posting
cashout wrote:So I recently opened a Roth IRA at Vanguard and inadvertently invested 5k in VGTSX instead of VTSMX,
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?

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.
Last edited by nisiprius on Mon Apr 02, 2012 6:00 am, edited 4 times in total.
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Re: How often have you mistakenly bought the wrong fund?

Post by livesoft » Tue Mar 27, 2012 6:53 am

I suppose buying a SmallCap Emerging Markets fund in January 2011 instead of a MoneyMarket fund was the wrong fund? :)
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Re: How often have you mistakenly bought the wrong fund?

Post by nisiprius » Tue Mar 27, 2012 6:58 am

livesoft wrote:I suppose buying a SmallCap Emerging Markets fund in January 2011 instead of a MoneyMarket fund was the wrong fund? :)
Oh, it's a thread title wording thing.

Howzabout "How often have you goofed and placed an incorrect order?"
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Re: How often have you mistakenly bought the wrong fund?

Post by sscritic » Tue Mar 27, 2012 7:06 am

I did the same as cashout, but in reverse in a taxable account. I wanted total international but bought total stock while flipping through the screens. At one point I was confused about where the money was coming from and had to repeat some steps; during the repeat my confusion deepened and buying the wrong fund was the result.

The one good thing that came from this: I got to learn about the telephone and specific share ID when I sold the shares the next morning. I was lucky,* the NAV didn't change that day, so I had neither a gain nor loss to report on my Schedule D. I still reported it, but it was a zero. Plus, I didn't have the 2% fee to pay.

* OK, if I had been really lucky, the NAV would have jumped by $10 that day, but I was happy with no change at all.

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Re: How often have you goofed and placed an incorrect order?

Post by The Wizard » Tue Mar 27, 2012 7:07 am

"Never" for me, mainly since I don't put $$$ into completely new funds every few weeks.
When I do open a new fund, such as VIPSX a few months back, it's usually a transfer from an existing fund since I seldom have the minimum $3K or more in new money just sitting around. :(

What I worry about more is putting too many zeros in a VG purchase from my linked checking account, thus instantly bankrupting me...
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Re: How often have you goofed and placed an incorrect order?

Post by nisiprius » Tue Mar 27, 2012 7:51 am

The Wizard wrote:What I worry about more is putting too many zeros in a VG purchase from my linked checking account, thus instantly bankrupting me...
I'd buy a handful of individual TIPS and get an email confirmation saying I'd bought "quantity: 8,000." Brief panic as to whether I could have ordered $8 million worth. Bonds are great (irony) because I'm never sure whether "one" means "one" or "one hundred" or "one thousand." Fidelity also used to send me occasional "alerts" about that mentioned quantities in the hundreds of millions, some obscure technical change and the number involved was the total number of bonds in the entire issue or something, but those didn't alarm me quite so much as I was pretty sure I hadn't ordered billions of dollars worth.
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Re: How often have you goofed and placed an incorrect order?

Post by snowbound » Tue Mar 27, 2012 7:58 am

I use the adage of "measure twice and cut once" so not yet for me.
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Re: How often have you goofed and placed an incorrect order?

Post by bertilak » Tue Mar 27, 2012 9:21 am

Twice, both times when doing extensive AA re-vamping while simultaneously moving everything from Schwab to Vanguard:

  1. Placed the "right" order but in the wrong account. This was at Schwab and there was no charge nor penalty to submit a corrective order immediately.
  2. Bought the wrong fund. I bought VTIAX (intl stock) instead of VTSAX (US stock). I waited out the two-month penalty period before selling it off and buying the right fund. I came out OK since there was a general market rise and "a rising tide floats all boats."
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Re: How often have you goofed and placed an incorrect order?

Post by scrabbler1 » Tue Mar 27, 2012 9:45 am

I have caught myself about to make an incorrect purchase or redemption a few times, just before I hit the dreaded "confirm" button. This happened when I was first making transactions on line so I chalked it up to basic unfamiliarity of the system. Same thing for online banking when setting up a revolving payment.

And of course there have been a few properly executed transactions I wish I hadn't made LOL!

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Re: How often have you goofed and placed an incorrect order?

Post by BigD53 » Tue Mar 27, 2012 10:03 am

I've made mistakes a couple of times. Or, I just flat-out changed my mind about a purchase (or the amount of the purchase.) I think it's ridiculous that the Vanguard website doesn't have a "cancel order" button.

T. Rowe Price has a cancel feature, and it's very simple. You can change or delete your buy, sell, or any transaction at any time before the market closes for that day.

C'mon Vanguard! Get on the ball!!

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Re: How often have you goofed and placed an incorrect order?

Post by yobria » Tue Mar 27, 2012 10:18 am

I'd say other errors, such as placing a market order on a thinly traded issue, are more common mistakes.

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Re: How often have you goofed and placed an incorrect order?

Post by Random Musings » Tue Mar 27, 2012 12:23 pm

Never. But never say never.

I carefully check the order before processing.

Now, if I only been as careful when placing orders in restaurants...... :oops:

RM
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Re: How often have you goofed and placed an incorrect order?

Post by bob90245 » Tue Mar 27, 2012 12:47 pm

snowbound wrote:I use the adage of "measure twice and cut once" so not yet for me.

For me, more like double-, triple-, and quaduple-check. Plus I make hard copies of my spreadsheet that documents the potential trade. Plus I have a separate browser tab telling me the closing trade price. And I look over all documents 3 or 4 times.

(And on an unrelated subject, yes I sometimes go back and double-check that I locked the front door when leaving the house.)
Ignore the market noise. Keep to your rebalancing schedule whether that is semi-annual, annual or trigger bands.

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Re: How often have you goofed and placed an incorrect order?

Post by daytona084 » Tue Mar 27, 2012 1:30 pm

nisiprius wrote: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?


Nisiprius.... OK, I think I have done the exact same thing... I own some VFWIX. (in the form of VEU) Actually did not know there were two funds so similar and bought the first one on the list. After studying the two funds on the VG website I fail to find a substantial difference between the two funds. (Yes I see a slightly lower expense ratio for VGTSX, 0.22% vs 0.35%). Is there a reason (other than expense ratio) that you prefer VGTSX? And can you articulate the difference in holdings?

(BTW, it appears the two related ETF's, VXUS and VEU, have the same exense ratio of 0.18%)

Thanks!

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Re: How often have you goofed and placed an incorrect order?

Post by Default User BR » Tue Mar 27, 2012 1:35 pm

As I usually purchase ETFs with limit orders, there are more opportunities to look at the transaction and realize that things aren't correct. I haven't yet* made an error.

* Meaning my next one will likely be a screw-up.


Brian

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Re: How often have you goofed and placed an incorrect order?

Post by BHCadet » Tue Mar 27, 2012 3:10 pm

I selected OTHER.
During rebalancing last year with Vanguard, an old fund in the IRA account was sold and the proceeds were used to buy a new fund.
Then, new money transferred from my credit union to Vanguard is supposed to buy the old fund back in the taxable account a day later.
But, after the old fund in the IRA account was sold, I couldn't buy it back in my taxable account until the 2 month grace period imposed by Vanguard to discourage frequent trading was over.
I should have brought the old fund on my taxable account before selling it in the IRA account.

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Re: How often have you goofed and placed an incorrect order?

Post by nisiprius » Tue Mar 27, 2012 3:14 pm

wjwhitney wrote:Is there a reason (other than expense ratio) that you prefer VGTSX? And can you articulate the difference in holdings?
It's not even the expense ratio. And frankly I think Vanguard sorta-kinda screwed up in offering two such similar funds. Here's my perception, and it's not advice, just a perception and an explanation of what I did. I meant to buy VGTSX, so after I waited out the redemption-fee period I corrected the error. For no good reason.

My perception of the two funds is that Vanguard always "meant" for VGTSX to be "the" fund, as indicated by its name ("Vanguard Total International Stock Index Fund," by its designation as one of their nine (now four) "core funds," and its use in the Target Retirement and other general-purpose funds-of-funds. And, although the assets under management for VFWIX are huge ($13 billion), it pales by comparison with VGTSX ($66 billion).

So, what's with VFWIX? My guess is that for some reason they really wanted to offer an ETF, and for some reason I don't understand the SEC doesn't allow funds-of-funds to be ETFs, and that for some reason they decided revamping VGTSX into an ETF-able form would take longer than they wanted to wait... so, VFWIX and VEU were born, served their purpose as an ETF stopgap, and they're now stuck with them.

I don't think the expense ratio is very important, and while many Bogleheads seem to think the current VGTSX index-- "mishy owee excess immie allie allie oxen free"--is a better and more complete index, because of its inclusion of small- and midcaps, I doubt that's very important either. But I think it's "the" Vanguard international index fund, and VFWIX is "the other" international index fund.
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Re: How often have you goofed and placed an incorrect order?

Post by asset_chaos » Tue Mar 27, 2012 6:22 pm

I clicked "never" because that's true. But as I've still got some life left in me, it'd probably be truer if I could have voted "not yet".
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Re: How often have you goofed and placed an incorrect order?

Post by joe8d » Tue Mar 27, 2012 6:53 pm

BigD53 wrote:I've made mistakes a couple of times. Or, I just flat-out changed my mind about a purchase (or the amount of the purchase.) I think it's ridiculous that the Vanguard website doesn't have a "cancel order" button.

T. Rowe Price has a cancel feature, and it's very simple. You can change or delete your buy, sell, or any transaction at any time before the market closes for that day.

C'mon Vanguard! Get on the ball!!


2nd that. Made one mistake online, moved money into NY Bd Fd instead of NYMMF and could not get VG to cancel even though it was 9AM and called VG within minutes of submitting it. Now do most transaction on phone with Rep and always tell them the reason I'm doing it that way was because of their no cancel online policy .
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Re: How often have you goofed and placed an incorrect order?

Post by momar » Tue Mar 27, 2012 7:07 pm

While rebalancing my 401k, I once accidentally used International Equity instead of the International Equity Index.
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Re: How often have you goofed and placed an incorrect order?

Post by HongKonger » Tue Mar 27, 2012 7:16 pm

Just last week I wanted to sell some 2802.hk (Asia Apex small cap) and was browsing the prices between that and 3004.hk (Emerging Asia). I ended up selling the 3004 ...but it worked out fine because the next day I bought the 3004 back at a lower price.

Its happened before when I have placed a limit order then, thinking I have cancelled it placed a market order and had them both execute.

Its no biggie as my trades are usually just $5k or $10k chunks.

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Re: How often have you goofed and placed an incorrect order?

Post by peppers » Tue Mar 27, 2012 7:22 pm

I had purchased two bank stocks. After some time had passed one had done well and the other was a no gain. I had intended on selling the no gain stock and keep the winner. What do I do? Yep, sell the winner and buy the no gainer.
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Re: How often have you goofed and placed an incorrect order?

Post by DblDoc » Tue Mar 27, 2012 7:27 pm

Once.

Sold instead of buying a fund :oops: . I no longer do my investing after working an overnight shift...

DD

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Re: How often have you goofed and placed an incorrect order?

Post by dratkinson » Tue Mar 27, 2012 7:51 pm

More than once.



I now use a checklists to remind me to take into account:

Before Transaction Checklist (complete for each transaction)

Execution date. (Chosen in advance to comply with all holding period requirements.)
Account type. (Taxable/Roth/....)
Buy fund name/number/symbol, number of shares. (Buy after ex-dividend.)
Sell fund name/number/symbol, number of shares. (Sell/TLH before ex-dividend.)
Record transaction number.
Record CSR's name.

Double-check:
--Vanguard fund minimums.
--Vanguard purchase/early redemption fee requirements.
--Vanguard frequent trading policy---60-day online/phone lockout. Order transactions to avoid purchase lockout. (Mail and automatic transactions still allowed.)
--Compliance with IRS rule: tax loss harvesting---fund selection.
--Compliance with IRS rule: holding period to avoid wash sale---more than 30 days.
--Compliance with IRS rule: holding period for TE bonds to claim TLH---more than half a year.
--Compliance with IRS rule: holding period to claim Qualified Dividend Income---more than 60 days.




Transaction Execution List. After ensuring I want to proceed with the transactions, I then create a simple ordered detailed list of all transactions before the execution date, and double-check each as it is executed. Some transactions must be completed over multiple days. Example: make a TSM purchase the day before a TSM sale to avoid Vanguard's frequent trading policy.



My transaction execution list to TLH (My List) is a little more complex as it is used as a script when I talk to the CSR, and as a secure email to Vanguard after the transaction to request a USPS acknowledgment. (Print My List to use as script during the transaction, annotate during the transaction, update/send secure email after the transaction.)

My List wrote:Subject: Memo for Record -- 14 December 2009, Specific ID Tax Sale

Vanguard Customer Service,

Please acknowledge this transaction by US mail. No other action is required.

This memo is to establish at the time of the sale my intention to use the
specific ID tax method for the indicated funds.

On 14 December 2009, Vanguard Customer Service representative Xxxxx Yyyyyy,
at my direction, exchanged shares in my taxable investment account into
VWLTX/43, Long-Term Tax-Exempt Bond Fund.

This transaction was made on a recorded line.

1. Sold shares of VWITX/42 from the following lot (transaction number: Wnnnnnnnnn):

Buy Transaction Buy Shares
Date Description Price Sold

7/25/08 Exchange from TEMM $13.06 918.836
Total shares sold: 918.836

2. Sold shares of VMLTX/31 from the following lots (transaction number: Wnnnnnnnnn):

Buy Transaction Buy Shares
Date Description Price Sold

9/19/08 Exchange from TE MM $10.78 278.293
10/9/08 Exchange from VMLTX $10.64 1011.408
12/11/08 Exchange from VILPX $10.63 2145.551
Total shares sold: 3435.252

/r
Me

Record Vanguard automatic acknowledgment below.

Your message Memo for Record -- 14 December 2009, Specific ID Tax Sale is ready to be sent to your Voyager Service Team on Monday, December 14, 2009 4:03:24 PM EST. Please note that it may take up to 1 hour for the recipient to receive this message, and that most messages are answered within two business days. We will notify you by e-mail when our secure response is available in your personal Vanguard mailbox.




Using checklists is the only way I've found to prevent most of my mistakes.
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Re: How often have you goofed and placed an incorrect order?

Post by jon-nyc » Tue Mar 27, 2012 8:35 pm

I bought instead of sold once when trying to rebalance. Then I had to sell double the amount, and as an employee of a Wall Street firm they track that kind of activity. I never got the call from compliance though.

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Re: How often have you goofed and placed an incorrect order?

Post by dm200 » Tue Mar 27, 2012 8:39 pm

The error I made was purchasing (online) Vanguard Brokered CDs that put me over the FDIC Insurance Limit (I calculated the limit incorrectly). I realized the error very quickly (within a day) and was able to take steps to keep under the limit (for an organizatioin I manage).

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Re: How often have you goofed and placed an incorrect order?

Post by Mrs.Feeley » Tue Mar 27, 2012 9:10 pm

This goof was a pretty silly one, but it ultimately turned out to be fortunate. After a great deal of thought, discussion, and reading my husband and I decided to move all of our holdings to Vanguard and simplify with the 3 index fund portfolio. I was on the phone with Vanguard, moving cash in different accounts into the three funds. At some point I got distracted, forgot the ticker symbol for the Total US Stock fund and said something like "let's move this money into that fund...gosh, I forgot the ticker, it's you know that total U.S. stock fund that tracks the index." It wasn't until I got the trade confirmations that I discovered that while most of the money we had intended for VTSMX did indeed end up in that fund, some ended up in the 500 Index. :oops: I was mortified. But it wasn't a bad thing as the 500 Index has since then outperformed Total Stock. Now I stick to doing all trades online.

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Re: How often have you goofed and placed an incorrect order?

Post by grabiner » Tue Mar 27, 2012 9:37 pm

My mistake was in adding the wrong lots for a sale. I have highest-in-first-out accounting set up for my ETFs. Last year, I was harvesting losses in VSS, and I checked my spreadsheet and saw lots of 200 and 100 shares, so I placed a limit order to sell 300 shares, which was accepted (in five pieces over half an hour). Only when I updated the spreadsheet did I see that I had added one of the wrong lots; the lots I wanted to sell were 100 and 300 shares, so I wound up having sold the whole 100 shares and 200 of the 300 shares. I went back the next day to sell the remaining 100 shares of the 300-share lot, so the cost was just an extra line on my tax form (no market fluctuation effects since I bought another ETF with the sale proceeds from VSS).
David Grabiner

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Re: How often have you goofed and placed an incorrect order?

Post by tooluser » Tue Mar 27, 2012 10:26 pm

Every time. (When it turns out bad.) :oops:
Never. (When it turns out good.) :mrgreen:

If I'm going to make a mistake with money, it surely will not be with the mechanics of placing an order. Measure twice, cut once. :scroogemcduck:
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Re: How often have you goofed and placed an incorrect order?

Post by Majormajor78 » Tue Mar 27, 2012 10:45 pm

I had about $4500 sitting in a money market earmarked for my sons autism therapy. It had been there for a few months waiting until we burned through this years FSA account so I wasn't thinking about it too much. Made good sized deposit and once it cleared sent everything in the money market to the ETF I wanted to buy and didn't realize until the next day that the therapy money went with it. Market went up a percent or two in the interim so everything was fine but my goodness. That was my first night of bad sleep since finding this site.
:oops:
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wander
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Re: How often have you goofed and placed an incorrect order?

Post by wander » Tue Mar 27, 2012 11:13 pm

I check it twice.

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Re: How often have you goofed and placed an incorrect order?

Post by Kevin M » Wed Mar 28, 2012 2:08 am

Years ago I meant to buy 10 shares of Yahoo at about $100 (as I recall), and somehow ended up buying 100 shares. Realized it the next day, by which time the price had dropped about $10. I think I must have bought right at the peak in 2000 or whenever it was. Unwilling to take the 1-day 10% loss, instead I rode it down, selling some along the way, and ended up with a significant loss.

Unfortunately, I've made much more expensive investing mistakes since then, but none in the last few years. Somehow it all worked out anyway.

Kevin
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Re: How often have you goofed and placed an incorrect order?

Post by wriggly » Wed Mar 28, 2012 4:17 am

In the UK, we have funds with Accumulation units (which roll-up dividends in the fund) and Distribution or Income units (which distribute dividends as cash).

When buying new units, my fund provider listed each fund, with the Accumulation units first and DIstribution units second, except for one fund, which for no particular reason was listed in the opposite order. So yes, I bought the wrong type of units and didn't realise until I got my first dividend check for a few pennies (since I only made the mistake for a single small contribution).

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Re: How often have you goofed and placed an incorrect order?

Post by nisiprius » Wed Mar 28, 2012 7:26 am

I don't believe any amount of checking will protect you for more than a while, though I'm impressed by dratkinson's checklist. It's the "record-button" effect, for those of you who remember analog reel-to-reel type recorders. These machines are physically capable of erasing and recording over an existing recording, and old-fashioned analog tape reels didn't have kind of per-reel write-protection mechanical gadgets. (Computer tapes had write-protect rings, cassettes had various kinds of break-out tabs, 5-1/4 disks had write notches, etc.)

So, they usually had some sort of lockout device that forced you to, at the very least, push two buttons at once, and, commonly, use both hands, to enable the record feature. The idea was to slow you down and make you think before recording. Needless to say, no matter how complicated the actions you had to perform, they soon became second nature and after a few years you would still accidentally record over tapes you meant to save.

But I still don't believe that Rose Mary Woods could have accidentally pressed the "record" button five to nine times to produce the 18-1/2 minute erasure in a critical Watergate tape!
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Re: How often have you goofed and placed an incorrect order?

Post by Rrolack » Wed Mar 28, 2012 11:12 pm

Back in 2000, I was running a successful penny-stock daytrading strategy.

I once doubled down on a stock rather than closing out the position; by the time I'd realized my mistake (~15 minutes later), a $1000 gain had turned into a $7000 loss.

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Re: How often have you goofed and placed an incorrect order?

Post by letsgobobby » Thu Mar 29, 2012 12:08 am

I bought and sold the exact same security in an attempt to TLH. sad.

kerplunk
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Re: How often have you goofed and placed an incorrect order?

Post by kerplunk » Thu Mar 29, 2012 12:44 am

Thankfully, not at all, and I plan on keeping it that way. A peson does feel a bit rushed when making ETF limit orders sometimes. I could see where error could happen!

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Don Christy
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Re: How often have you goofed and placed an incorrect order?

Post by Don Christy » Thu Mar 29, 2012 5:46 am

Just once. I was tax loss harvesting a MF with a redemption fee, so I had to convert to ETF to avoid the fee, then sell the ETF and replace with 2 ETFs to get a similar asset exposure. For one of those buy orders I mistakenly used the ticker for what I had just sold. My bid was on the low side of the spread relative to the ask and I realized and cancelled my order before it filled. So other than an unnecessary adrenalin rush, no harm, no foul.

Extra credit for identifying the original MF involved... Anyone?

Don
“Speak only if it improves upon the silence." Mahatma Gandhi

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Jay69
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Re: How often have you goofed and placed an incorrect order?

Post by Jay69 » Thu Mar 29, 2012 7:49 am

Being a good Boglehead buying ETF's I always use Limit orders.

Over the past year I did the same mistake twice, inputed the wrong amount on the limit, both times it was the number after the decimal.

First time I flipped the numbers. After that I decided I really need to write down on paper the share price I wanted.

Second time, I used the number of shares for number after the decimal.

One went thru the other did not! It was just a monthy contribution to an IRA so the amount was small thank god. Last year when I was moving accounts the trades were much bigger, glad that went fine!
"Out of clutter, find simplicity” Albert Einstein

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GregLee
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Re: How often have you goofed and placed an incorrect order?

Post by GregLee » Thu Mar 29, 2012 8:01 am

Never. I can't imagine doing such a thing.
Greg, retired 8/10.

maj
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Re: How often have you goofed and placed an incorrect order?

Post by maj » Thu Mar 29, 2012 9:38 am

many many years ago, i bought Western Instruments instead of Texas Instruments.
I just finished recovery therapy yesterday...
peace

Valuethinker
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Re: How often have you goofed and placed an incorrect order?

Post by Valuethinker » Fri Mar 30, 2012 9:12 am

wriggly wrote:In the UK, we have funds with Accumulation units (which roll-up dividends in the fund) and Distribution or Income units (which distribute dividends as cash).

When buying new units, my fund provider listed each fund, with the Accumulation units first and DIstribution units second, except for one fund, which for no particular reason was listed in the opposite order. So yes, I bought the wrong type of units and didn't realise until I got my first dividend check for a few pennies (since I only made the mistake for a single small contribution).


With my ISAs I find the fund provider just confuses the orders, no matter what you tell them in writing.

However the dividends are used to purchase new units, so it hasn't, so far, mattered much.

sscritic
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Re: How often have you goofed and placed an incorrect order?

Post by sscritic » Fri Mar 30, 2012 9:17 am

I want to hear from the person who voted "I don't know and I don't care." I can understand knowing and not caring about a small amount, but how would you not know that you purchased the wrong fund, buying X when you wanted to buy Y? Remember, the question isn't just about ten dollars, but about many thousands.
How often did you make a mistake and order many thousands of dollars' worth of the wrong investment?

Does this mystery person never read his statements?

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nisiprius
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Re: How often have you goofed and placed an incorrect order?

Post by nisiprius » Mon Apr 02, 2012 6:04 am

Apologies. I added a new response, "I have accidentally bought BOND when I meant to buy BND but haven't ever noticed my mistake," because I thought it would be funny, :( not realizing it would set all the replies to zero. :oops:

From Google's cache:
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Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.

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iceport
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Re: How often have you goofed and placed an incorrect order?

Post by iceport » Sat Apr 21, 2012 11:47 am

Never, ever had this problem. Many others, yes. This one? No.

--Pete
"Discipline matters more than allocation.” ─William Bernstein

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Boglenaut
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Re: How often have you goofed and placed an incorrect order?

Post by Boglenaut » Sat Apr 21, 2012 3:56 pm

Nisi,

I beat you to it. ;)


viewtopic.php?t=82363&mrr=1316011557

But my poll did get messed up after the forum conversion.

If you read my thread: Beware - starting a thread like this will cause you to make an error.

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Archie Sinclair
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Re: How often have you goofed and placed an incorrect order?

Post by Archie Sinclair » Sat Apr 21, 2012 8:10 pm

Don Christy wrote:Just once. I was tax loss harvesting a MF with a redemption fee, so I had to convert to ETF to avoid the fee, then sell the ETF and replace with 2 ETFs to get a similar asset exposure. For one of those buy orders I mistakenly used the ticker for what I had just sold. My bid was on the low side of the spread relative to the ask and I realized and cancelled my order before it filled. So other than an unnecessary adrenalin rush, no harm, no foul.

Extra credit for identifying the original MF involved... Anyone?

Don


Vanguard Total International Index Fund --> Vanguard Total International ETF (VXUS) --> Vanguard FTSE All-World Ex-US ETF (VEU) & Vanguard FTSE All-World Ex-US Small Cap ETF (VSS)?

I agree that "VXUS" is confusing when there are other funds with "Ex-US" in their names. Also, "VTI" should refer to Total International, not Total Stock.

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