My $3.5 Million Netflix Mistake

Motley Fool2021-10-15

Key Points I bought a broken IPO in 2002 of a company called Netflix. You've probably heard of it. I sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of ...

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26629536
2021-10-15
26629536
Ok
- 26629536:
  [LOL]
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  [Sly]
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  [Cool]
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  [NosePick]
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  [Onlooker]
sunshinegirl
2021-10-15
sunshinegirl
Ok

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You've probably heard of it.\nI sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of ...</p>\n\n<a href=\"https://www.fool.com/investing/general/2021/10/14/my-35-million-netflix-mistake/\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NFLX","symbol_name":"奈飞","start_time":0,"source_url":"https://www.fool.com/investing/general/2021/10/14/my-35-million-netflix-mistake/","article_id":"1158716116","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1158716116","pubTimestamp":1634288798,"columns":[],"sourceInfo":null,"weMediaInfo":null,"summary":"Nineteen years ago I made the smartest investment of my life, followed a few months later by my dumbest decision.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NFLX":"奈飞"},"translate_title":"我350万美元的Netflix,Inc.错误","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NFLX":0.9},"content_text":"Key Points\n\nI bought a broken IPO in 2002 of a company called Netflix. You've probably heard of it.\nI sold 80% of my position a couple of months later for thousands of dollars. It's worth millions of dollars now.\nSelling always feels right, and almost comes as a relief. The real pain follows when you sold too soon on a wealth-altering investment.\n\n\nMy 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.\nAnyone 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.\nI 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.\nIMAGE SOURCE: GETTY IMAGES.\nSelling is the hardest part\nThe math is cruel. See, those 500 shares would be 7,000 shares today after a pair of stock splits over those 19 years. Selling all but 20% of that position is a story that gets uglier over time. When I initially wrote about my terrible decision back in 2015, it was a $505,845 mistake, as that was the value of the 80% stake that I thought I was so smart for unloading ages ago.\nRevisiting my tale of woe seems to be like a running cab meter. The 80% stake I sold in early 2003 would be worth $802,179 in late 2016, $884,709 by March 2017, and $2.8 million last summer. It would top $3.5 million as of Wednesday's close.\nThe good news would normally be that the other 20% is a pretty good consolation prize. Unfortunately, I didn't heed my own advice. I would go on to sell half of my remaining stake in 2016, taking out the pruning shares again in 2018 and 2020 until what is now just 2% of my original position. I was uncomfortable with how large my position was in a single stock at every juncture, when in reality it should've been a reminder of how my attempts at diversification with the proceeds only hurt my portfolio. The 98% of my initial stake that I no longer own would be worth more than $4.3 million right now.\nNetflix remains my largest holding, and just that remaining 2% stake is worth more than most people earn in a year. I can appreciate that. 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