Originally Posted by
Randeman Something to be said for "buy and hold."
Yes, I admit it, I bought Facebook on IPO day (caught up in all the hype). Then, later the same day, I bought another 1000 shares as the price dropped during all the confusion of the delayed trading launch.
I was left holding a worthless investment, according to many in the discussion groups, that dropped more than 50%. Lots of encouragement to dump it.
Luckily, I ignored all the bad advice. However, I did not average down any further than IPO day (usually I do). It's been 14 months now and after finally doing what I thought it would do all along for mobile, Facebook is in danger of getting back to even. In another year, maybe it will double. Who knows?
I'm keeping all of my BlackBerry too. May even average down some more, depending upon how Facebook keeps doing.