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BOFI - A look back...

10/27/2013

 
BOFI - Bank of Internet USA has been on a insane run these past couple of years.  I first bought the stock before the banking crisis as it was always trading below book value with an extremely low P/E.  While knocked down to less than $5 a share during the 2009 bottom, I picked up quite a few shares. Unfortunately I traded in an out of positions and when it ran to about $15 I was just about completely out of the stock.  I waited for a pullback... and waited... and waited.  The stock went parabolic as investment sites and analyts started cheerleading.  It hit as high as $70/share recently and one of the original analysts finally put out a neutral rating.  Lesson learned.  If you trade around a position, be sure to never trade yourself completely out of your core postion.  Keep some stock for long term - and some for trading.

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    Paul Saad

    Senior Manager, Paul Saad and Associates, LLC

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