Emotions get to me again… The same thing that happen before happen again yesterday. And I really have to note this down to truly remind myself that this is the 2nd time I have made this mistake.
On Thursday, As the time draws near to 4pm. I received an sms from my friend, He wrote, “so how have you bid in yet”
I said, “wat”
He wrote, “xxx lah, xxx IPO closing at 6pm”
In fact, I did have intention to get xxx, but I was thinking of my cashflow. Because my friend had actually bid in for the IPO, it made me feel that if I had not bid in, I would lose out in any gain. Furthermore this was a good friend and I trusted his views on the IPO. Just as I was about to click the summit bid button, I feel “bad” I feel I have really check out the IPO, do I really know what I am getting? but my greed emotion got in front of me and I summit the bid.
Well, I felt bad and I wished I was not allocated. But I was. The next day, market open. The IPO opened below market price and the words came” I knew it, I never should bid since I felt uncomfortable with it”
Sometime investing we do need to rely a bit on “gut feeling” but most important of all is to have all the information on hand on what you are buying. Furthermore there is a was going on, how can the market be receptive?
Lucky this IPO have a high yield and this should be the last time I post a blog on emotions getting on top of me.