My $3.5 Million Netflix Mistake
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 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.
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.
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.
Source Fool.com
