I have pretty good record when it comes to what future trends might influence a stocks price so when I’m asked what my “best” stock pick is at the moment I hesitate. And here is why?
Recently I was asked that question and gave the questioner my answer. I even cautioned him to make sure he was investing in the spirit the stock pick was chosen. That has been about 2 weeks.
Last week I called to say Hi. I asked if he’d done anything with that stock pick. The response I got was what I’d expected.
With a slight haughtiness in his voice he told me that he’d chosen to go with another pick. One of his.
“Oh, well.”, I thought.
He took my time to explain all the reasons that his pick was better than mine. I took that to mean he thought he could do better than me. That may be true on occasion. Then he went on to explain how his pick was already up 5% over my pick and he thought it was developing critical mass. So much for a long-term investment. Now it’s a momentum play.
Both stocks peaked over the last week. My pick flattened out. What happened to his stock? I called him up to ask and the response was… “I don’t want to talk about it.” Does that mean what I think it means?
The point here is that whatever effort I did to get that good stock pick is still valid today as it was when I made it. It is still a viable trade but I don’t think he’s going to make use of it. And for the bad will that my suggestion caused I’ll have to say it isn’t worth the effort either.
So if you’re ever asked for a good stock pick and you are tempted to give them an answer, just “Don’t Do It”! And if you are the one asking, “Well,…”
