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uglypugz | I bought $100,000 of AAPL at $177 with $$ borrowed from credit cards. Now i'm stuck. What should I do? Sell? |
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The Professional
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I think Apple will eventually reach the levels you purchased the shares originally, but it will probably take a while. HPQ just came out with great numbers - this might be a good sign for Apple, but who knows. No one can predict the market short-term. I think you were foolish to put yourself and your family (if you have one) in fiscal danger. But hey, you live, you learn.
Also, since you are asking people via Yahoo Answers for investing advice, Im going to assume you're a newbie. What makes you think you can go all in with 100G's on a single stock? Like my father always used to say - "When you play with fire, eventually you're going to get burnt."
The stock market is not for the weak. If I were you, Id wait it out, but the time frame in which you will regain your losses is impossible to tell (could take years).
I predict Apple will go down further, you'll panic, and sell.
Also, the stock market doesn't have to be like a casino, but most people turn it into one. With proper research, the odds are heavily stacked in your favor. I you were looking at the numbers, you could tell Apple was getting overpriced (along with most tech). Also, the market as a whole is doing badly. When the market is performing badly, people panic, and it's no telling how much more the market could go down.
Good Luck
- Black |
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Tim
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If it is going down, cut your losses and sell.
You should never invest money you don;t have. |
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financialpeas
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Wow... what were you thinking? Sell that tomorrow first thing. And, promise you will never, ever buy stocks with borrowed money. $100K? You took out a cash advance to buy stock? With decisions like that I am guessing you are not in good financial shape in the rest of your life. Maybe you can sell it, and eventually will be filing bankruptcy.
I hope many others read this and learn, so this lesson does not go unnoticed. This is just gambling.
Sell and pay off those cards to the extent possible. Then work an extra job to make the $20,000 or more you will need to make up the difference. Then close your credit card accounts, get on a budget, live within your means, join Gamblers Anonymous, and read Dave Ramsey's book, Total Money Makeover. |
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jeff410
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Credit cards are easy to get and you can borrow as much as the cards you can collect, but I dont know whatever possessed you to think you could borrow money at 15-20 percent and come out ahead investing it. Atleast you can write off $3,000 each year on your loss. That might help you pay some of the interest on the cards. Sell and cut your losses and keep this as a lesson. Never borrow money on credit cards, or against your assets, to invest. |
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dave u
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Hey! it takes guts to play with the big boys,Stick it out.i have confidence in you.Most jokers are scared to invest 5000. let alone 100,000. |
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Yarcofin
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How the hell did you get $100,000 worth of credit?
You're pretty much screwed. You broke so many basic rules of investing that I'm not going to even explain.
If you sell now, you'll be down $30,000 and still paying interest on it. You can wait and perhaps it will go up a little bit, but you risk it dropping even more too. |
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Veritas et Aequitas ()
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If it is going down, cut your losses and sell. You should never invest money you don;t have. - Tim
What were you thinking? Of course you need to sell and you'll owe the amount of loss out of pocket plus the interest plus transaction fees accumulating on it if you sell at a loss. – rayt721
Wow that's an expensive lesson...too late now, but next time you borrow money (or invest on margin) you should consider hedging with options. – whodeyflya |
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rayt721
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What were you thinking? Of course you need to sell and you'll owe the amount of loss out of pocket plus the interest plus transaction fees accumulating on it if you sell at a loss. |
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jandrouais
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No, keep it. If you look at what many people are saying in the investing world, they think it will go up. Up from what it is now. Give it a month. At least let them post their next quarters earnings. It could go down, but probably not much more than it is now. I think the bottom has dropped out on this stock and it will regain its footing. Come spring and summer, most people will feel a bit better about spending again, plus, with checks from the IRS, a few will buy things. I sold mine on december 27th. The best time ever to have sold. I bought it for 87 a while back at 10,000 shares. Do the math. I rode out the storm for a bit, and then they went up. A stock like that will flucuate, but hold onto it for just a bit more. Unless you're paying 20% in interest on your credit card. Then you may have a problem. Move that credit card debt over to a low interest card. |
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Common Sense
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Put a "trailing stop" with the most you're willing to lose now (plus what you've already lost). You'll either get "stopped out" or maybe... just maybe make some of your loss back.
Things you don't want to know;
Always have an exit plan before taking a position (set a maximum amount you're willing to lose with a stop).
Never invest more than 2% of your investable assets into any one security. Never borrow (unless you're an experianced trader with a very good plan for an exit).
Look out for the three worst enemies of trading;
Greed
Fear
Indicision
Traders get killed when they act on;
Hope
Wishes
Expect
"Can't Lose"
Know
or think.... "it's going back to what I paid for it"...............
Next time read a half dozen books on trading. It will be less expensive. |
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David M
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What were you planning when you spent $100,000 on the stock? Were you planning on holding it for a while? If so, how were you planning to pay back the $100,000? Just pay it back as you previously planned. If on the other hand, you bought on credit in the hope of it going up and selling for a profit before your credit bill was due, you learned a valuable lesson. Don't "invest" more than you can afford. Don't plan on short term movements in a stock to always go your way. Don't invest money in the stock market that you might need in the next 5 years. Don't buy on margin unless you'll soon have the money to pay back the loan. You learned a lot of lessons on this one it would appear. Next time you want to gamble, go to a casino with no more money than you can afford to lose in your pocket. |
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Shaun R
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You should have sold a looong time ago. Sell it now because it could go even lower. I know your probably long term oriented but I've seen a lot of stock go from $100 to $20 and never go back.
Here read this site you need some investment education. |
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Larry
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564 shares today are worth $69,000. How long would it take you to earn $31K?
You haven't lost until you sell. It may return to $180 /share within three months. Its a gamble.
But if you don't sell now, how will you make payments on the $100K until the stock does rebound?
Your call.
Gutsy move though, if it would've worked out for you, you'd have a lot of friends right now. Your guts are a positive thing, but you need to hedge big moves like that... have a security net to back your play.
The chart looks hopeful...
http://finance.yahoo.com/q/ta?s=AAPL&t=2y&l=on&z=m&q=l&p=m100,m200&a=&c=
.
.
. |
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Radar Man
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U should sell now. With the market in its current downtrend who knows when it will recover. |
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MM
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Learn the "50% retracement rule." This is a simple, reliable rule for timing your trades.
To learn about it, you may google for it. There's also some books that talk about it.
Use this rule to figure out whether to hold or sell. |
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muncie birder
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I didn't know you could borrow that much from credit cards. I guess you learn something every day. How many credit cards did you use? What interest rate are you paying? Did you buy on margin too? And I thought those 2/28 ers were looking for trouble. Wow. |
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