As one of the best businessmen alive, Warren Buffett, once said, "Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.” I find this quote directly relating to me, I found myself devoting energy on trying to fix a failure as opposed to moving on. I like to be hands on and pursue my interests, and one of my interests is business, specifically investing captivated me junior year. A bad investment steered me in the wrong direction of how I should take failures.
I picked up business courses in high school. Beginning sophomore year in introduction to business class, I learned the basics of investing, stocks in particular, and the idea of your …show more content…
I noticed a pattern in IPOs, it seemed that they always had an upward trend right after going public. So, I started to do my research on upcoming IPOs. Etsy, Inc. caught my eye, they are a growing online company, which in the past and still is a very fast growing industry as proven by Amazon, eBay and many others. Etsy, Inc. wasn’t even a profiting company yet. I figured once they release a quarterly report showing a profit, their stock price would skyrocket. I purchased my shares of Etsy, Inc. at $30. As I write this, the stock price is $14.32 and I am still a shareholder waiting to recover some losses. It was the first time I failed in the stock market and it crushed me because it was such a big loss, although it’s only a paper loss, it still affected me in a way I wish it didn’t. I was completely turned off from investing, I sold all of my other assets at a small profit, and kept Etsy stock in case it someday rebounds.
I know now that everyone fails and that's okay, because that's what I was looking for anyway, I was looking for experience and sometimes failure is the most valuable experience. I lost someone elses money, that someone else worked for and it was upsetting. My dad wasn’t even upset, he was actually surprised I hadn’t lost money earlier. The bad investment still scared me away from investing for a
I picked up business courses in high school. Beginning sophomore year in introduction to business class, I learned the basics of investing, stocks in particular, and the idea of your …show more content…
I noticed a pattern in IPOs, it seemed that they always had an upward trend right after going public. So, I started to do my research on upcoming IPOs. Etsy, Inc. caught my eye, they are a growing online company, which in the past and still is a very fast growing industry as proven by Amazon, eBay and many others. Etsy, Inc. wasn’t even a profiting company yet. I figured once they release a quarterly report showing a profit, their stock price would skyrocket. I purchased my shares of Etsy, Inc. at $30. As I write this, the stock price is $14.32 and I am still a shareholder waiting to recover some losses. It was the first time I failed in the stock market and it crushed me because it was such a big loss, although it’s only a paper loss, it still affected me in a way I wish it didn’t. I was completely turned off from investing, I sold all of my other assets at a small profit, and kept Etsy stock in case it someday rebounds.
I know now that everyone fails and that's okay, because that's what I was looking for anyway, I was looking for experience and sometimes failure is the most valuable experience. I lost someone elses money, that someone else worked for and it was upsetting. My dad wasn’t even upset, he was actually surprised I hadn’t lost money earlier. The bad investment still scared me away from investing for a