My future “safe stock” that didn’t feel sooooooo safe right now
I decided to invest in NTPC because I thought I was being smart with my money.
Everyone said NTPC is a company and it has strong basics so it is good for the long term.
I thought okay this is where I stop trying hard and start investing in NTPC.
I bought NTPC shares slowly. Felt confident when the price went up.
I even bought NTPC shares near the top because I thought this was just the beginning.
Then things started to go wrong with NTPC.
At first I ignored it and told myself it is NTPC it will recover.
The loss kept getting bigger with NTPC.
What hurt more was not the loss itself. The fact that I kept convincing myself to hold on to NTPC and then buy more NTPC to average and then just watch NTPC.
Eventually I sold my NTPC shares not at the bottom. Enough to feel the damage from NTPC.
The worst part is that NTPC is not a bad company it is just bad timing, bad decisions and too much confidence from my side when it comes to NTPC.
Now every time I see NTPC, on my watchlist it is not a stock it is a reminder of how easy it is to feel safe in the market and still end up losing money with NTPC.
Have anyone else got a “safe” stock that turned into a painful lesson?