FAQ/Knowledgebase: Nov 2014

Do you remember why you had the loss in 2005?

Looking back at my records, I think there were several factors. I was still cleaning up my portfolio from the dot com period. I owned quite a number of small speculative stocks which did badly in 2005 - Audible.com, which started the year at $26 and fell under $10, and lot’s of other rubbishy stocks. I had also just started using options a lot and I think I got carried away writing covered calls and had some potential good performers called away. Back then I bought stocks on margin, so in a bad year my losses were magnified. I hadn’t yet started buying AAPL!

John

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