I Should Have Sold Cisco at $75

This article is illustrative of why amateurs tend to get beat up the hardest when asset prices expand and eventually collapse. I wonder how many people decided to hold onto their Cisco shares at $75 because they thought it was going to $90 next. The lady in this article is doing the same thing so many dot-com investors (not that Cisco is a dot-commer) did in 2000. They held out for one more, or five more, or ten more points, and got left with nothing.


[Kandy Walsh owns a second home near Tucson that has appreciated $200,000 in five months, and she's ready to sell it. But not just yet.

The reason: She's betting that if she waits six or 12 months more before selling the new 2,200-square-foot home in a gated golf-course community, she can make even more money.

"I don't want to sell too early," says Walsh, a real estate broker in her 50s. "But I don't want to get clobbered, either. But if I roll the dice (and win), it is an extraordinary opportunity to really make money."]