Sold KRE - Worst Investment Yet

Today I sold my shares of KRE for $30.00 per share. I was tired of holding it and hoping the price would rise and make my decision to purchase not look so bad (I’m learning to put asside any emotional attachments to stocks). I purchased KRE for $45.25/share on August 23, 2007 after Jim Cramer talked the ETF up like it was the best investment ever….I should have know better. The logic was that the Fed Rate Cuts would help the Regional Banks and KRE would move upward (link to original post on KRE). Well, the cuts happened but over time KRE just dropped. I think Cramer was a little optimistic on the economy. So I took a 34% hit on this one.

On a positive note, I quit watching Cramer soon after KRE started going south last year (plus I got busy and was tired of his tirades). Since then I’ve focused mostly on arbitrage situations and have done a lot better.