I've Been a Netflix Shareholder for 20 Years
I don't have to think hard to find my most successful investment. It was 20 years ago -- this month -- that I bought a broken IPO by the name of Netflix (NASDAQ: NFLX). October 2002 also happened to be the same month that Netflix shares would hit an all-time low. I didn't nail the bottom, but I was close enough to make this jaw-dropping claim -- Netflix is a 540-bagger for me after Wednesday's blowout earnings performance.
It's a bittersweet victory lap for me. I sold 80% of my stake within a couple of months, a mistake that literally cost me millions at the stock's peak last year. I would whittle down my stake over the years to just 2% of that initial position.
The pain is real. The price to have a front seat to the Netflix story wasn't cheap, but the lesson is clear. You can knock Netflix down. It finds a way to come back even stronger.
Source Fool.com
