Junkman
Super Member
Re: What\'s the dumbest purchase you\'ve ever made?
a engagement ring. /forums/images/graemlins/frown.gif
a engagement ring. /forums/images/graemlins/frown.gif
What's the dumbest purchase you've ever made?
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Gatorboy
Elite Member
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Re: What\'s the dumbest purchase you\'ve ever made?
</font><font color="blue" class="small">( Well, it's been five years and it's now at $8 )</font>
Many people have lost alot of money over the past few years with the downturn of the stock markets. I was worth $15 million when the company I worked for went public -- however I was locked out from selling for 6 months. When I could sell I could have made $1 million but I kept thinking, the market will come back so I held -- and I am still holding today and the stock has gone from $115 to $2.
Not selling when I could is the DUMBEST MISTAKE I've ever made
</font><font color="blue" class="small">( Well, it's been five years and it's now at $8 )</font>
Many people have lost alot of money over the past few years with the downturn of the stock markets. I was worth $15 million when the company I worked for went public -- however I was locked out from selling for 6 months. When I could sell I could have made $1 million but I kept thinking, the market will come back so I held -- and I am still holding today and the stock has gone from $115 to $2.
Not selling when I could is the DUMBEST MISTAKE I've ever made
JDgreen227
Super Member
Re: What\'s the dumbest purchase you\'ve ever made?
I have made my share of foolish purchases but the worst and most expensive one was buying a membership in a buying club that was named United Consumers Club. The idea behind the membership was that you would pay about $1400 up front for a three year membership and then continue with a fee of $110 a year for the fourth and remaining years. You could look through a huge library of catalogs in their showroom that covered everything from tools, to bath fixtures, to furniture, to ceiling fans, etc. All name brand stuff and high quality. The premise was you were basically buying direct from the manufacturer and not paying the local wholesaler his markup. Well, we joined but never bought anything, I needed a new garage door and checked their price, for Clopay I had to wait two weeks and pay for shipping and there was an ad in the local paper where I could buy the same size and brand of door right then for less than the UCC price and not pay for shipping....yes, I let the UCC director know how disgusted I was.
They went online, and began closing the local clubs near us, and the only one I can possibly visit is an hour and a half away. Needless to say, after shelling out $1700 for the membership fees it was a pretty stupid waste of money on my part. As it was my idea and my money, my spouse never gave me a hard time about it, I doubt if we would ever have bought enough to justify the cost.
I have made my share of foolish purchases but the worst and most expensive one was buying a membership in a buying club that was named United Consumers Club. The idea behind the membership was that you would pay about $1400 up front for a three year membership and then continue with a fee of $110 a year for the fourth and remaining years. You could look through a huge library of catalogs in their showroom that covered everything from tools, to bath fixtures, to furniture, to ceiling fans, etc. All name brand stuff and high quality. The premise was you were basically buying direct from the manufacturer and not paying the local wholesaler his markup. Well, we joined but never bought anything, I needed a new garage door and checked their price, for Clopay I had to wait two weeks and pay for shipping and there was an ad in the local paper where I could buy the same size and brand of door right then for less than the UCC price and not pay for shipping....yes, I let the UCC director know how disgusted I was.
They went online, and began closing the local clubs near us, and the only one I can possibly visit is an hour and a half away. Needless to say, after shelling out $1700 for the membership fees it was a pretty stupid waste of money on my part. As it was my idea and my money, my spouse never gave me a hard time about it, I doubt if we would ever have bought enough to justify the cost.
TerryinMD
Veteran Member
Re: What\'s the dumbest purchase you\'ve ever made?
Ha!!!
I worked for WorldCom, purchased stock with the 401k, and had stock options....... thought that I would be able to retire and pay for my kids education. /forums/images/graemlins/blush.gif
Not as bad as Gatorboy.... but equally as dumb! /forums/images/graemlins/tongue.gif
Sigh!!!! Good plan at the time. /forums/images/graemlins/ooo.gif
Terry
Ha!!!
I worked for WorldCom, purchased stock with the 401k, and had stock options....... thought that I would be able to retire and pay for my kids education. /forums/images/graemlins/blush.gif
Not as bad as Gatorboy.... but equally as dumb! /forums/images/graemlins/tongue.gif
Sigh!!!! Good plan at the time. /forums/images/graemlins/ooo.gif
Terry
Junkman
Super Member
Re: What\'s the dumbest purchase you\'ve ever made?
Can't cry over bad decissions.... in 1962 when Gatorboy was born, I was offered 40 acres at a place called Martha's Vineyard for almost free. All I had to do was pay the taxes. $50 was the total bill and I could have it. My dads attorney was given the land by a client that couldn't pay his legal fees and the attorney didn't want the land. He refereed to it as "a damned cranberry bog probably". I had no idea what Martha's Vineyard was at the time, so I said "if you don't want it, why would I". What would that land be worth today? Hindsight is always 20-20. If wishes were horses, beggars would ride. When Lucent was at $60 I was going to sell it, my broker said "hold"..... when it dropped to $15 I said sell, he said how low can it go.... When it got to $2... I said, now we know ..... now he says with a smile on his face.... It's coming back!... See there is an up side to everything. My pick of the month is Symbol GIVN... I bought it at $18 /forums/images/graemlins/smile.gif
Can't cry over bad decissions.... in 1962 when Gatorboy was born, I was offered 40 acres at a place called Martha's Vineyard for almost free. All I had to do was pay the taxes. $50 was the total bill and I could have it. My dads attorney was given the land by a client that couldn't pay his legal fees and the attorney didn't want the land. He refereed to it as "a damned cranberry bog probably". I had no idea what Martha's Vineyard was at the time, so I said "if you don't want it, why would I". What would that land be worth today? Hindsight is always 20-20. If wishes were horses, beggars would ride. When Lucent was at $60 I was going to sell it, my broker said "hold"..... when it dropped to $15 I said sell, he said how low can it go.... When it got to $2... I said, now we know ..... now he says with a smile on his face.... It's coming back!... See there is an up side to everything. My pick of the month is Symbol GIVN... I bought it at $18 /forums/images/graemlins/smile.gif
RonL
Banned
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Re: What\'s the dumbest purchase you\'ve ever made?
Bought a Diesel VW Bug that turned out to be a lemon. Traded it in for a VW Passat that turned out to be a lemon. Then I learned that VW is having a MAJOR problem with quality control. I wish that I had known about VW's problems. I would have saved myself a lot of grief.
RonL
Bought a Diesel VW Bug that turned out to be a lemon. Traded it in for a VW Passat that turned out to be a lemon. Then I learned that VW is having a MAJOR problem with quality control. I wish that I had known about VW's problems. I would have saved myself a lot of grief.
RonL
StoneHeartFarm
Veteran Member
Re: What\'s the dumbest purchase you\'ve ever made?
I didn't buy this, but apparently someone else did.
Steve
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2389286139
I didn't buy this, but apparently someone else did.
Steve
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2389286139
RayBee
Gold Member
Re: What\'s the dumbest purchase you\'ve ever made?
As a teenager in 1954, I bought a pair of Purple Suede shoes. /forums/images/graemlins/cool.gif
The shoestore did'nt have the famous other ones ....but I thought these
were close enough. /forums/images/graemlins/cool.gif
Everyone let me know THAT THEY WEREN'T /forums/images/graemlins/blush.gif /forums/images/graemlins/blush.gif ...I wore them in public twice. /forums/images/graemlins/frown.gif /forums/images/graemlins/frown.gif ....RayBee
As a teenager in 1954, I bought a pair of Purple Suede shoes. /forums/images/graemlins/cool.gif
The shoestore did'nt have the famous other ones ....but I thought these
were close enough. /forums/images/graemlins/cool.gif
Everyone let me know THAT THEY WEREN'T /forums/images/graemlins/blush.gif /forums/images/graemlins/blush.gif ...I wore them in public twice. /forums/images/graemlins/frown.gif /forums/images/graemlins/frown.gif ....RayBee
Dozernut
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Re: What\'s the dumbest purchase you\'ve ever made?
You got to admire someone that honest and with a good sense of humor. Thanks for the link, it gave me a good laugh!
You got to admire someone that honest and with a good sense of humor. Thanks for the link, it gave me a good laugh!
rdln
Veteran Member
Re: What\'s the dumbest purchase you\'ve ever made?
On the less expensive side, It would be a craftsman 12volt battery powered backup up sump pump, they sure saw me coming.
On the less expensive side, It would be a craftsman 12volt battery powered backup up sump pump, they sure saw me coming.