A story:
bought the fashion stock BooHoo (LON:BOO) at a really high price back in 2021 when i got swept up in the hype. Since then im down around 85% on an initial 5k investment.
I have 0 plans to retire any time soon (have a 25 year time horizon) and have I and have 90% of my investments in a world ETF so this where the bulk of my money is which i regularly contribute to.
The question is considering my long time horizon when is it sensible to cut loses, im already down such a large amount does it even make sense to realise my loss?
I know Warren buffets rule number 1 and it seems ive royally f*cked ths one up.
Do i just write off the 5k and leave it or take my couple hundred remaining and redeploy it into my “safer” ETF. My view of the company is that its not going to grow in the short term and i find it unlikely it will reach the levels i bought at.
What rules do you put in place to reduce this happening.
This is certainly a life lesson for sure.
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