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Averaging down on Citigroup on Jason Jovine's advice

Monday, March 10, 2008 | Frank Is this Spam?

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My Worse Trade in Recent Memory -

- Unfortunately, I followed Jason Jovine's advice and bought Citigroup at $28 per share. Then I averaged down and bought more at about $25, and once again at $22. As I write this, Citigroup is trading at $19.97.

- I've been reading the Tycoon Report for some time now. Apparently it has undergone some editorial changes. I used to get some very good ideas from the newsletter. I have learned that not all writers and analysts at the Tycoon Report have equal abilities. Lesson learned, the hard way. I’ll be much more careful now when reading the Tycoon Report. Teeka Tiwari seems to be the only one these days offering valuable insights. Too bad.



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  1. Bill (1 year ago) Is this Spam?

    Well, I had the same idea ON MY OWN. Had not even read Jason's article. I am now the proud owner of 250 shres of Citi--FIRMLY CONVINCED that a giant like this would HAVE to turn around. And who knows??? Maybe it will?????????

    But in the long haul, whether following others' adevice or little voices in our own heads, WE not Jason put the trades in.



    I am very new at this game and have learrned some very hard lessons that noone culd have taught me out of a book. So if I survive I hope to be all the wiser--AND DOUBLE CHECK WITH THOSE LITTLE "VOICES".



    Bill Chicago

  2. Martyn (1 year ago) Is this Spam?

    Well said Daryl R.

  3. Daryl R (1 year ago) Is this Spam?

    Frank,



    I've got news for you Frank. Nobody has a crystal ball and Jason's record speaks for itself.

    If you bail when the chips are down it shows you are not your own man when it comes to investing.

    Every trade you make you are accountable for.

    Jason's abilities far surpass probably 99% of all individual investors.

    Even if you were shaken out of Citi you can always dip into all the profits from his other trades that made you alot of money.



    When someone is willing to put their neck on the line to help other investors for free. When someone is willing to help educate you and me to be much more successful than we would have been on our own. My hat comes off to them.

    Jason kicks butt on his advice and if you can't see that then you my friend need some glasses.



    Investing is an art and not a science.

    Your comments show how emotionally tied you are to your trade. That my friend is not anybody else's fault.



    I just have one question for you. Did you write in to congratulate Jason on every other trade that made you money?
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