Deputy Managing Editor, InvestorPlace.com
I won’t linger on my good stock picks, as happy as I was about them.
For instance, Buffalo Wild Wings (BWLD) surged 95% after my bullish article in February following a disappointing earnings report — the result of sky-high wing prices. (Soon thereafter, I went long BWLD and enjoyed roughly 75% gains myself.) Meanwhile, General Electric (GE) is up about 19% to easily best the market since my late-May call. American Airlines (AAL, then AAMRQ) was my best call — the DoJ didn’t end up stopping the merger with US Airways (LCC), and AAMRQ multiplied several times over my $3 buy-in. Sadly, I was stopped out.
But man, one of my absolute worst calls came on one of the most high-profile stocks out there — Amazon (AMZN) — and I can’t stop kicking myself over it.
What went wrong?
Truth be told, much of my original argument still holds true. AMZN is wildly overvalued, and investors are putting a lot of faith in the company’s numerous initiatives holding fast. But Amazon is putting some proof in the pudding, especially in the form of Amazon Web Services’ increased success, and its lineup of projects has become too much to ignore.
I said as much earlier this month, then turned tail and went bullish Amazon … so expect it to go to zero next year, because I clearly don’t get AMZN.
As of this writing, Kyle Woodley was long GE.