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Incidentally, the purchase was a disaster. I then got out again with a stop loss €20 lower.
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@Soprano Oh dear, bought near the high and then got out at the low - bitter. Who hasn't had that happen to them? How I deal with it: if I am convinced by a company, then I am not interested in a short-term book loss, especially not after quarterly figures that look good but do not meet the expectations of the "analysts". I ignore that. If at all, then I might buy more (provided there are no really negative changes now). The last time I set a stop/loss was 20 years ago.
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@CharminArmin Well, a lot of the negative aspects of the share were already priced in. The fact that it still disappoints is a surprise. The figures were actually great, but the fact that they then gave poor guidance showed me that I could no longer expect to get back to 0 for the time being.

The fact that I hit a low point with the exit is of course annoying. But it could just as easily have gone much further downhill, in which case the SL would have been well placed.
Unfortunately, you only know afterwards.

The decisive factor, however, is that I don't believe in Paycom as firmly as I do in Amazon, Stryker or Paradox. I also have increasing doubts about how strong the moat really is with a Paycom.
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