To The Moon

I am not sure what to say about $Tesla Motors(TSLA)$  but I do have a confession to make. After hearing a live podcast from Elon Musk yesterday, I actually bought Tesla because I was buoyed by his confidence in making Tesla one of the best, if not the best company in the world. I'm a bit mad with myself because I broke my own rules. I bought Tesla while it was on a rally ($118) but thought twice about it and sold it. 

What happened 

There is no other way to say it, but I FOMO-ed yesterday during premarket. When I saw the share price rise from $112 (28 Dec) to $117 (premarket, 29 Dec), I felt that I had to get in. It continues its ascent to $122 before sinking to $119 where I panicked. Erm, at this point I have to say that I've had the bad experience with Tesla where I bought it when it was rallying, only to wake up and find that I had lost $800. I then sold the stocks.

Lesson Learnt 

If you follow my articles, you would know that I espoused not FOMO-ing and analysing my stocks first before buying. For Tesla, I've been eyeing it for quite a while, but really I broke my own rules. For one, I bought while on a rally and couldn't overcome my human nature not to jump on the bandwagon. Boy do I hate myself for it. Secondly, I bought into Elon Musk's words. I don't profess to be a saint but I didnt think I felt comfortable with Elon Musk's management. While I am guessing the stock will rise when he steps down from Twitter, I still feel that the company is not in good hands. I may be made to eat my words in a few weeks or months when Tesla rises again but unlike $Grab Holdings(GRAB)$  , I don't think I can sleep with this stock. 

Way ahead 

I think my thinking must change and be adaptable. I think that risk must be properly managed if I do want to consider Tesla. At its current price I believe it's risk worth taking, just that perhaps it is my previous experience in buying the stock. It's a great and innovative company no doubt but I think there is still room for the stock to fall further. I got caught in the rally and broke my own rules, which is why I sold it soon after. I also have to reflect on my own wishy washy nature today.

@CaptainTiger  @TigerStars  @MillionaireTiger