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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Investments - Strategies
Turning a Small Loss into a Bigger Loss
by Howard Haykin
CASE IN POINT. An investor mistakenly bought 3,000 shares of a stock in his on-line account at TD Ameritrade. By the time he realized his error and called a customer representative, the price of the stock had fallen - leaving the customer with a modest $700 unrealized loss. While TD Ameritrade would not reverse the trade, the phone rep promised that the firm would make him whole by selling the 3,000 shares and giving him $700 worth of commission-free trades.
But instead of accepting the offer, the customer chose to hold onto the shares, hoping that the price would return to (or exceed) its original level. Unfortunately, the stock price continued to fall and the customer ended up losing $4,547 and ‘$700 in free trades’.
MORAL OF THE STORY. It pays to minimize or cut one’s losses in the stock market by divesting (or selling) investments you no longer want to hold. That's especially true when its possible, if not probable, that you can lose more money. In other words, DON’T BE GREEDY!
[For further details on this story, click on BrokerAndBroker.]