"Sooner or later there will be another financial crisis, they seem to come every 10 years or so." Funny you put it that way. I used to say every 15 years. But banking blows to smithereens with regularity. That's a rule that goes back to the dawn of financial history. The name can change... from "Bubble" to "Panic" to "Depression" to "Recession" but the result and the causes repeat.
Around 2003 I inherited a sizable chunk of Regions and BAC bank stock from a timid blue chip investor who took few chances. Both stocks went to hell in 2008 and I sold them for the tax loss. Like you, I figure the next banking calamity is always just around the corner. I do think some lessons were learned in the Great Recession so I think we're safe from that risk a little longer. Currently I own no bank investments; I have enough of them via BRK, probably too much, and I have my insured bank CDs.
I owned some Monsanto for about 10 years until Bayer bought it last year... a pretty good money maker for me.
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I always wonder how many investors profit from their first stock. I'll bet it's very few. Well my first stock was an airline... ten shares, and yes, I lost about 15% before selling. Airlines where hot then as jets were just coming into use. They were more efficient than previous motors and, for a time, airline stocks soared. But not mine! A few years later I bought another airline... and lost money... again! Both airlines failed years later.
Unlike most IHUBers I have some ability to learn from mistakes. So these days I own no banks, and no airlines. LOL! Airline stocks have a 100-year history of being financial sink holes.
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Because the Good Life is Just a Pump or Two Away
