Jan
11
An Astronomer, from Kim Zussman
January 11, 2013 |
An astronomer was profiled in the media, ca ~2000. Not for his science, but for the fact that he held onto a position in MSFT stock for ~10X (100X, etc).
He didn't sell after 20% gain. Or 50%. Or 100%. He just irrationally (per nascent behavioral finance) held. Intuition, like in Carl Sagan's "Contact", rather than explicit knowledge of the company's business prospects, valuation, or moving average. Dumb stubborn luck.
MSFT hasn't done much since then, so whether he's still holding or sold out, no matter (because it wasn't AMD).
The astronomer is a standard-bearer for those in the empirical vacuum tempted to sell after a double, or down on their luck and doubling down.
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