[Arrow shows when I urged selling GCI in 2007, at $35; bigger view]
In a comment yesterday, Anonymous@4:09 p.m. wrote: "Wished you'd have told everyone to put their entire 401(k) in GCI stock last March. It's up something like 550% since then!"
My reply: Hindsight is 20/20. Just ask CEO Craig Dubow; he and other senior executives took all-cash bonuses in the last round, rather than the traditional payout that included company stock. The top brass was shunning GCI just as it was becoming a huge buying opportunity.
On the other hand, more than two years ago, Dec. 15, 2007, I suggested that readers consider selling Gannett stock in their 401(k), since loading up on shares in your employer's company violates the rule about diversifying your investment. Back then, Gannett's stock was trading at $35 a share -- twice as high as yesterday's closing price: $16.24.
Please post your replies in the comments section, below. To e-mail confidentially, write jimhopkins[at]gmail[dot-com]; see Tipsters Anonymous Policy in the rail, upper right.
[Graphic: Google Finance]
Glad to see you back!!!
ReplyDeleteWhen I sold it was in the 60s.
ReplyDeleteThis stock has turned into a good short-term trade, but as an investment, it stinks.
i still own some bought at $90. i know i'll never break even, but i'm hoping to minimize my loss, since -- having been laid off -- i have a lot less income to offset with it.
ReplyDelete