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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Reducing stock market risk: Learning with a fascinating story

Reducing stock market risk: Learning with a fascinating story

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hlsindrajith


Manager - Equity Analytics
Manager - Equity Analytics
In case there are stocks in your portfolio that do not perform as expected because you have mistakenly purchased or else, take the decision to dispose them without lagging before the loss has become an unbearable loss. Every 50% loss began as a 10%, as a 20% and so on.  

A story from the book titled “Why You Win or Lose” authored by Fred C. Kelly illustrates the importance of a defensive plan for cutting losses quickly and you need to develop the decisiveness and discipline to make hard-headed business decision without wavering

 The story

 A man was trying to catch wild turkeys. He had a turkey trap, a crude contrivance consisting of a big box with the door hinged at the top. This door was kept open by a prop to which was tied a piece of twine leading back a hundred feet or more to the operator. A thin trail of corn scattered along a path lured turkeys to the box. Once inside the turkeys found an even more plentiful supply of corn. When enough turkeys had wandered inside the box, the old man would jerk away the prop and let the door fall shut. Having once shut the door, he couldn't open it again without going up to the box and this would scare away any turkeys lurking outside. The time to pull away the prop was when as many turkeys were inside as one could reasonably expect.

One day he had a dozen turkeys in his box. Then one sauntered out, leaving 11. "Gosh, I wish I had pulled the string when all 12 were there," said the old man. "I'll wait a minute and maybe the other one will go back. "But while he waited for the twelfth turkey to return, two more walked out on him. "I should have been satisfied with 11," the trapper said. "Just as soon as I get one more back, I'll pull the string." But three more walked out. Still the man waited. Having once had 12 turkeys, he disliked going home with less than eight.
 
He couldn't give up the idea that some of the original number would return. When finally only one turkey was left in the trap, he said, "I'll wait until he walks out or another goes in, and then I'll quit." The solitary turkey went to join the others, and the man returned empty-handed.

Thushara Ayya

Thushara Ayya
Vice President - Equity Analytics
Vice President - Equity Analytics
Good story... I also have this kind of story on those bull rally days in 2010, 2011 period.... Sad Sad Sad

goldenboy

goldenboy
Manager - Equity Analytics
Manager - Equity Analytics
Good lesson for all of us.
Thanks hlsindrajith.

hlsindrajith


Manager - Equity Analytics
Manager - Equity Analytics
I had bought 10,000 TFCX at 8.50 and sold all of them for at 8.60 at a loss of .10 and purchased VFIN and ESL for better portfolio based on the rationale above mentioned.

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