Those of you following my portfolio on the enlightened-american website know that I sold out of Telefonica a few weeks ago. I didn't mind selling early at the time but with the stock (ADR) up above $90, leaving 18+ points on the table is really irritating. I had to drive to work with the art-thrash band Lightning Bolt turned up full blast to help relieve some of the tension. I know it's counter-productive to dwell on this but I can't help it -- it's in my nature.
Hindsight is 20/20 but I know I made a mistake my position in Telefonica. But I don't believe it was in selling the stock, necessarily. I talked myself out of the position so the mistake was either in buying in the first place or not having the confidence in my initial judgement.
It'll be something to examine at the end of the year.
Friday, October 12, 2007
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