How to lose money in the stock market

Bill De Blasio is trying to make some political hay out of his efforts at pressuring financial firms to divest their investments in the firearms industry:

“Six months after launching a national divestment campaign against manufacturers of assault weapons and high-capacity ammo clips, Public Advocate Bill de Blasio announced eight hedge funds and money managers have completely divested their gun holdings, valued at $150 million. Fourteen more firms have scaled back their gun investments by 7.4 million shares—27 percent of their holdings …”

While it is unclear whether or not De Blasio’s campaign really influenced any of these firm’s decisions, for the sake of argument let’s give him all the credit.

From an investors perspective, how smart of a move was it to dump these stocks now?

So basically, anyone who followed De Blasio’s advice lost money.

Way to go Bill.

12 thoughts on “How to lose money in the stock market

  1. Well if the financial sector is stupid enough to take advise from politicians, who are the ones bankrupting our nation, as sound advise they deserve what they get.

  2. The other explanation for these firms paring their holdings of firearms companies is that they bought low and sold high. Isn’t that what investment companies are supposed to do?

    If they had bought Ruger stock at the beginning of 2009 before Obama was inaugurated, they would have paid about $6 and change for a share of stock. If they sold in the middle of March, the cost per share was $56. No investment manager would ever be fired for getting an 800% return.

  3. Still mad as hell i couldn’t get a hold of some shares when they were going for 4 dollars and change per. STUPID STUPID STUPID!

  4. Out of the horror show of NYC mayoral candidates, Bill is the worst, although not by alot. If I lived in the city (thank G-d I do not), I would vote for Weiner just because of his porno name “Carlos Dangerous”. That is so awesome – LOL!

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