sunshinegirl
2021-10-15
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My $3.5 Million Netflix Mistake<blockquote>我350万美元的Netflix错误</blockquote>
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You've probably heard of it.</li> <li>I sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of dollars now.</li> <li>Selling always feels right, and almost comes as a relief. The real pain follows when you sold too soon on a wealth-altering investment.</li> </ul> </p><p><blockquote><ul><li>2002年,我购买了一家名为Netflix的公司的IPO失败。你可能听说过。</li><li>几个月后,我以数千美元的价格卖掉了80%的头寸。它现在价值数百万美元。</li><li>销售总是感觉正确,几乎是一种解脱。当你过早出售改变财富的投资时,真正的痛苦就随之而来了。</li></ul></blockquote></p><p> My biggest investing success story also happens to be my biggest investing failure. It was 19 years ago -- to the day -- that I wrote about changing my tune on <b>Netflix</b>(NASDAQ:NFLX). I had gone from skeptic of the DVDs-by-mail rental platform after its springtime IPO earlier that year to a believer. I was a subscriber. I was a new investor.</p><p><blockquote>我最大的投资成功故事也恰好是我最大的投资失败。19年前——直到今天——我写了一篇关于改变我的观点的文章<b>Netflix</b>(纳斯达克:NFLX)。那年早些时候,在DVD邮寄租赁平台春季首次公开募股后,我从怀疑者变成了信徒。我是订户。我是一个新投资者。</blockquote></p><p> Anyone that read that piece and followed me into what was a broken IPO of an early stage disruptor is sitting pretty right now. The stock is roughly a 1,180-bagger in that time. That's not a typo.</p><p><blockquote>任何读过那篇文章并跟随我进入早期颠覆者失败的IPO的人现在都坐得很好。当时该股的股价约为1,180美元。那不是错别字。</blockquote></p><p> I fared even better, having bought closer to the bottom a few days earlier. I picked up 500 shares for roughly $2,600. I would then make the wealth-altering mistake of selling most of my shares a few months later. Selling 80% of my Netflix stock at a modest gain felt pretty good at the time. I didn't realize that I would be leaving millions on the table as I walked away.</p><p><blockquote>我的表现甚至更好,几天前我在接近底部时买入。我以大约2,600美元的价格购买了500股。然后,我会犯改变财富的错误,几个月后卖掉大部分股票。以适度的收益出售80%的Netflix股票当时感觉相当不错。我没有意识到当我离开的时候,我会在桌子上留下数百万美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f677827826587f01bb23530eb9f9798\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源:盖蒂图片社。</span></p></blockquote></p><p> <b>Selling is the hardest part</b></p><p><blockquote><b>销售是最难的部分</b></blockquote></p><p> The math is cruel. See, those 500 shares would be 7,000 shares today after a pair of stock splits over those 19 years. Selling all but 20% of that position is a story that gets uglier over time. When I initially wrote about my terrible decision back in 2015, it was a $505,845 mistake, as that was the value of the 80% stake that I thought I was so smart for unloading ages ago.</p><p><blockquote>数学是残酷的。看,经过这19年来的两次股票分割后,这500股今天将变成7,000股。随着时间的推移,出售除20%以外的所有头寸的情况会变得更加丑陋。当我最初在2015年写下我的可怕决定时,这是一个505,845美元的错误,因为这是我几年前认为我非常聪明地抛售的80%股份的价值。</blockquote></p><p> Revisiting my tale of woe seems to be like a running cab meter. The 80% stake I sold in early 2003 would be worth $802,179 in late 2016, $884,709 by March 2017, and $2.8 million last summer. It would top $3.5 million as of Wednesday's close.</p><p><blockquote>重温我的悲惨故事似乎就像一个运行的出租车计价器。我在2003年初出售的80%股份在2016年底价值802,179美元,到2017年3月价值884,709美元,去年夏天价值280万美元。截至周三收盘,该价格将突破350万美元。</blockquote></p><p> The good news would normally be that the other 20% is a pretty good consolation prize. Unfortunately, I didn't heed my own advice. I would go on to sell half of my remaining stake in 2016, taking out the pruning shares again in 2018 and 2020 until what is now just 2% of my original position. I was uncomfortable with how large my position was in a single stock at every juncture, when in reality it should've been a reminder of how my attempts at diversification with the proceeds only hurt my portfolio. The 98% of my initial stake that I no longer own would be worth more than $4.3 million right now.</p><p><blockquote>好消息通常是另外20%是一个很好的安慰奖。不幸的是,我没有听从自己的建议。我将在2016年继续出售剩余股份的一半,并在2018年和2020年再次出售削减的股份,直到现在仅为我原始头寸的2%。我对我在每个关头在一只股票上的头寸有多大感到不舒服,而实际上这应该提醒我,我利用收益进行多元化的尝试只会损害我的投资组合。我不再拥有的98%初始股份现在价值将超过430万美元。</blockquote></p><p> Netflix remains my largest holding, and just that remaining 2% stake is worth more than most people earn in a year. I can appreciate that. It doesn't mean that every self-inflicted haircut doesn't hurt when I see what I could've done -- what I should've done -- with all of the hair that has fallen to the floor.</p><p><blockquote>Netflix仍然是我最大的持股,仅剩下的2%股份的价值就超过了大多数人一年的收入。我很感激。这并不意味着当我看到我本可以做什么——我应该做什么——用掉在地板上的所有头发时,每一次自我理发都不会伤害我。</blockquote></p><p> We spend so much time making sure we don't make a mistake in the investments that we make that we seem to forget that the real challenge sometimes is when to sell stocks. Art appreciation has nothing on the art of appreciation. The initial relief you get when you sell any position -- winning or losing -- is transitory until you see the scoreboard months, years -- or, in my case -- 19 years later.</p><p><blockquote>我们花了太多时间来确保我们在投资中不会犯错误,以至于我们似乎忘记了有时真正的挑战是何时出售股票。艺术欣赏与欣赏艺术无关。当你卖出任何头寸(无论输赢)时,你最初得到的解脱都是暂时的,直到几个月、几年后——或者对我来说——19年后——你看到记分牌。</blockquote></p><p> \"My portfolio isn't a one-trick pony,\" I wrote last year, but I should've let that thoroughbred run. That horse is still running.</p><p><blockquote>“我的投资组合不是一匹只会一招的小马,”我去年写道,但我应该让那匹纯种马奔跑。那匹马还在跑。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>My $3.5 Million Netflix Mistake<blockquote>我350万美元的Netflix错误</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMy $3.5 Million Netflix Mistake<blockquote>我350万美元的Netflix错误</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-10-15 17:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Key Points</b></p><p><blockquote><b>要点</b></blockquote></p><p> <ul> <li>I bought a broken IPO in 2002 of a company called Netflix. You've probably heard of it.</li> <li>I sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of dollars now.</li> <li>Selling always feels right, and almost comes as a relief. The real pain follows when you sold too soon on a wealth-altering investment.</li> </ul> </p><p><blockquote><ul><li>2002年,我购买了一家名为Netflix的公司的IPO失败。你可能听说过。</li><li>几个月后,我以数千美元的价格卖掉了80%的头寸。它现在价值数百万美元。</li><li>销售总是感觉正确,几乎是一种解脱。当你过早出售改变财富的投资时,真正的痛苦就随之而来了。</li></ul></blockquote></p><p> My biggest investing success story also happens to be my biggest investing failure. It was 19 years ago -- to the day -- that I wrote about changing my tune on <b>Netflix</b>(NASDAQ:NFLX). I had gone from skeptic of the DVDs-by-mail rental platform after its springtime IPO earlier that year to a believer. I was a subscriber. I was a new investor.</p><p><blockquote>我最大的投资成功故事也恰好是我最大的投资失败。19年前——直到今天——我写了一篇关于改变我的观点的文章<b>Netflix</b>(纳斯达克:NFLX)。那年早些时候,在DVD邮寄租赁平台春季首次公开募股后,我从怀疑者变成了信徒。我是订户。我是一个新投资者。</blockquote></p><p> Anyone that read that piece and followed me into what was a broken IPO of an early stage disruptor is sitting pretty right now. The stock is roughly a 1,180-bagger in that time. That's not a typo.</p><p><blockquote>任何读过那篇文章并跟随我进入早期颠覆者失败的IPO的人现在都坐得很好。当时该股的股价约为1,180美元。那不是错别字。</blockquote></p><p> I fared even better, having bought closer to the bottom a few days earlier. I picked up 500 shares for roughly $2,600. I would then make the wealth-altering mistake of selling most of my shares a few months later. Selling 80% of my Netflix stock at a modest gain felt pretty good at the time. I didn't realize that I would be leaving millions on the table as I walked away.</p><p><blockquote>我的表现甚至更好,几天前我在接近底部时买入。我以大约2,600美元的价格购买了500股。然后,我会犯改变财富的错误,几个月后卖掉大部分股票。以适度的收益出售80%的Netflix股票当时感觉相当不错。我没有意识到当我离开的时候,我会在桌子上留下数百万美元。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f677827826587f01bb23530eb9f9798\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源:盖蒂图片社。</span></p></blockquote></p><p> <b>Selling is the hardest part</b></p><p><blockquote><b>销售是最难的部分</b></blockquote></p><p> The math is cruel. See, those 500 shares would be 7,000 shares today after a pair of stock splits over those 19 years. Selling all but 20% of that position is a story that gets uglier over time. When I initially wrote about my terrible decision back in 2015, it was a $505,845 mistake, as that was the value of the 80% stake that I thought I was so smart for unloading ages ago.</p><p><blockquote>数学是残酷的。看,经过这19年来的两次股票分割后,这500股今天将变成7,000股。随着时间的推移,出售除20%以外的所有头寸的情况会变得更加丑陋。当我最初在2015年写下我的可怕决定时,这是一个505,845美元的错误,因为这是我几年前认为我非常聪明地抛售的80%股份的价值。</blockquote></p><p> Revisiting my tale of woe seems to be like a running cab meter. The 80% stake I sold in early 2003 would be worth $802,179 in late 2016, $884,709 by March 2017, and $2.8 million last summer. It would top $3.5 million as of Wednesday's close.</p><p><blockquote>重温我的悲惨故事似乎就像一个运行的出租车计价器。我在2003年初出售的80%股份在2016年底价值802,179美元,到2017年3月价值884,709美元,去年夏天价值280万美元。截至周三收盘,该价格将突破350万美元。</blockquote></p><p> The good news would normally be that the other 20% is a pretty good consolation prize. Unfortunately, I didn't heed my own advice. I would go on to sell half of my remaining stake in 2016, taking out the pruning shares again in 2018 and 2020 until what is now just 2% of my original position. I was uncomfortable with how large my position was in a single stock at every juncture, when in reality it should've been a reminder of how my attempts at diversification with the proceeds only hurt my portfolio. The 98% of my initial stake that I no longer own would be worth more than $4.3 million right now.</p><p><blockquote>好消息通常是另外20%是一个很好的安慰奖。不幸的是,我没有听从自己的建议。我将在2016年继续出售剩余股份的一半,并在2018年和2020年再次出售削减的股份,直到现在仅为我原始头寸的2%。我对我在每个关头在一只股票上的头寸有多大感到不舒服,而实际上这应该提醒我,我利用收益进行多元化的尝试只会损害我的投资组合。我不再拥有的98%初始股份现在价值将超过430万美元。</blockquote></p><p> Netflix remains my largest holding, and just that remaining 2% stake is worth more than most people earn in a year. I can appreciate that. It doesn't mean that every self-inflicted haircut doesn't hurt when I see what I could've done -- what I should've done -- with all of the hair that has fallen to the floor.</p><p><blockquote>Netflix仍然是我最大的持股,仅剩下的2%股份的价值就超过了大多数人一年的收入。我很感激。这并不意味着当我看到我本可以做什么——我应该做什么——用掉在地板上的所有头发时,每一次自我理发都不会伤害我。</blockquote></p><p> We spend so much time making sure we don't make a mistake in the investments that we make that we seem to forget that the real challenge sometimes is when to sell stocks. Art appreciation has nothing on the art of appreciation. The initial relief you get when you sell any position -- winning or losing -- is transitory until you see the scoreboard months, years -- or, in my case -- 19 years later.</p><p><blockquote>我们花了太多时间来确保我们在投资中不会犯错误,以至于我们似乎忘记了有时真正的挑战是何时出售股票。艺术欣赏与欣赏艺术无关。当你卖出任何头寸(无论输赢)时,你最初得到的解脱都是暂时的,直到几个月、几年后——或者对我来说——19年后——你看到记分牌。</blockquote></p><p> \"My portfolio isn't a one-trick pony,\" I wrote last year, but I should've let that thoroughbred run. That horse is still running.</p><p><blockquote>“我的投资组合不是一匹只会一招的小马,”我去年写道,但我应该让那匹纯种马奔跑。那匹马还在跑。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.fool.com/investing/general/2021/10/14/my-35-million-netflix-mistake/\">Motley Fool</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/general/2021/10/14/my-35-million-netflix-mistake/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158716116","content_text":"Key Points\n\nI bought a broken IPO in 2002 of a company called Netflix. You've probably heard of it.\nI sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of dollars now.\nSelling always feels right, and almost comes as a relief. The real pain follows when you sold too soon on a wealth-altering investment.\n\n\nMy biggest investing success story also happens to be my biggest investing failure. It was 19 years ago -- to the day -- that I wrote about changing my tune on Netflix(NASDAQ:NFLX). I had gone from skeptic of the DVDs-by-mail rental platform after its springtime IPO earlier that year to a believer. I was a subscriber. I was a new investor.\nAnyone that read that piece and followed me into what was a broken IPO of an early stage disruptor is sitting pretty right now. The stock is roughly a 1,180-bagger in that time. That's not a typo.\nI fared even better, having bought closer to the bottom a few days earlier. I picked up 500 shares for roughly $2,600. I would then make the wealth-altering mistake of selling most of my shares a few months later. Selling 80% of my Netflix stock at a modest gain felt pretty good at the time. I didn't realize that I would be leaving millions on the table as I walked away.\nIMAGE SOURCE: GETTY IMAGES.\nSelling is the hardest part\nThe math is cruel. See, those 500 shares would be 7,000 shares today after a pair of stock splits over those 19 years. Selling all but 20% of that position is a story that gets uglier over time. When I initially wrote about my terrible decision back in 2015, it was a $505,845 mistake, as that was the value of the 80% stake that I thought I was so smart for unloading ages ago.\nRevisiting my tale of woe seems to be like a running cab meter. The 80% stake I sold in early 2003 would be worth $802,179 in late 2016, $884,709 by March 2017, and $2.8 million last summer. It would top $3.5 million as of Wednesday's close.\nThe good news would normally be that the other 20% is a pretty good consolation prize. Unfortunately, I didn't heed my own advice. I would go on to sell half of my remaining stake in 2016, taking out the pruning shares again in 2018 and 2020 until what is now just 2% of my original position. I was uncomfortable with how large my position was in a single stock at every juncture, when in reality it should've been a reminder of how my attempts at diversification with the proceeds only hurt my portfolio. The 98% of my initial stake that I no longer own would be worth more than $4.3 million right now.\nNetflix remains my largest holding, and just that remaining 2% stake is worth more than most people earn in a year. I can appreciate that. It doesn't mean that every self-inflicted haircut doesn't hurt when I see what I could've done -- what I should've done -- with all of the hair that has fallen to the floor.\nWe spend so much time making sure we don't make a mistake in the investments that we make that we seem to forget that the real challenge sometimes is when to sell stocks. Art appreciation has nothing on the art of appreciation. The initial relief you get when you sell any position -- winning or losing -- is transitory until you see the scoreboard months, years -- or, in my case -- 19 years later.\n\"My portfolio isn't a one-trick pony,\" I wrote last year, but I should've let that thoroughbred run. That horse is still running.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":2681,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/824112564"}
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