Bought FLML, sold RTI

I bought Flamel Technologies (FLML), a highly risky little biotechnology company recommended by the Motley Fool Hidden Gems newsletter. I don't know much about the company, which is normally a no-no for buying, and they don't make a significant profit, which usually also steers me away. But I'm too heavy in cash, so I'm taking a (long-term) flyer.

It's kind of fun buying small positions of small, potentially volatile companies. Sure, they might tank, but they could also do a 10x over 5 years. My more conservative picks (like Sara Lee (SLE), just don't move much year to year -- but they pretty much just go up.

I also sold RTI International Metals (RTI), a titanium company that I bought in January 1998 at $24.50. 7 years later, I sold it for $21.71, a loss of about 11%. It went as low as about $7 in late 2001, but I was as freaked out as anybody and didn't double up on the loser, like I usually try to. (I was waiting for a second terrorist attack.) I can't help but look at Pep Boys, which I sold off after a nice bounce back but before another 200% increase.

I never knew that much about RTI; I just liked their numbers. Now I stopped liking their numbers. Historically, stocks whose numbers I've liked have done pretty well -- but a few have tanked, and this was one of them.

Filed Thu - January 27, 2005, 03:13 PM in

Return to: |  



.