Monday, August 8, 2011

Google Revisited: I Sold

Like anyone else, I like to point out when I'm right (unlike many, I'll also point out when I'm wrong).  Here's what I said in a recent post about whether I should sell Google when it spiked to over $600/share:

I bought Google at $537 per share (after in an earlier life buying it at $247 and selling at $320 -- there is perhaps another lesson there).  As some of you may have noticed, Google has spiked dramatically to over $600 per share after reporting earnings.  I do believe that it's worth much more than $600 ultimately but it's tough not to sell it after the recent upswing because I think the world generally is in for more negative economic news which will once again depress Google. 

The bolded language has been validated.  I sold while Google was still at $615.  It's now at $547.  One for the win column but I am the last person to beat my chest.  Back to the desk...

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