Alright readers, it's your turn now! What was the best investment you ever made (we're talking financial returns only here) and what was the worst investment you ever made?
My best investment was the stock of The Chase Manhattan Bank, NA. At one point in the late 1980s or early 1990s the stock went down close to $10 per share. I was confident the bank had addressed many of its problems and the Fed had lowered interest rates substantially making carry trades profitable for banks. I bet the boat and put a significant portion of my entire portfolio in the stock. I made about 10 times my money before I sold it.
My worst investment was in a car dealership in a little town. It struggled for 5 years through the recession after Sept. 11, 2001 until it finally went bankrupt. While it is not pleasant to lose money, I feel even worse because my brother lost money in a deal I introduced him to. It confirmed a rule I had heard, never own a business more than 30 minutes from your home. Sorry Tim! I dream of making enough money that I can make him whole.
So what are your stories? Share them with us and maybe we can learn something.
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