I did my own investing for years. I finally realized that while I’m pretty good at doing my due diligence buying stocks, I’m not so good at knowing when to sell.
One example. Years ago (~ 1998) I read an article in the magazine Individual Investor (now defunct). It was owned by Maria Bartiromo’s husband. The article had to do with a cancer drug that had promising phase trials.
Took a flyer on it and bought $1000 dollars of stock. The name of the company was Imclone Systems. Yup, the same Imclone Systems that Martha Stewart went to jail for insider trading.
The value of my Imclone holdings went to ~ $25,000 dollars. Yup as famed investor Peter Lynch might say a 25 bagger (25 times your investment). And I didn’t sell.
Why? Well my reasoning was the phase trials weren’t over with and I didn’t need the money. Two dumbass reasons for not selling.
That year Imclone had the highest percentage gain of any stock. Eventually I realized I needed a dispassionate expert doing my investing.
If I were to give financial advice I would say two things. Don’t fall in love with a stock and don’t fight the Fed (Federal Reserve). Stocks and interest rates work inverse of each other.
Oh, hindsight being 20 - 20. I’d do what Warren Buffett recommends. Take ~ 80% of your investment money and put it in a low cost (ETF etc.) S&P 500 Index Fund and the rest in Treasury Bills.