Today I sold my last Sun Microsystems, Inc. (NASDAQ:JAVA) (formerly SUNW) stock – at a net loss of about 80%.
I was looking pretty smart back in 2000-2001. Even though to a large degree I had lost faith in SUN, I must admit I held this stock more based on emotion, always a bad idea. I felt I was supporting something opposing MSFT and held on to the stock on that basis – I even dollar cost averaged.
I finally decided to take my lumps, accepting the symbolism of the decison, admiting something that I have known for a long time, but didn’t really want to admit: that Sun Microsystems is destined to become a textbook warning sign for other tech companies.
It’s not unlike the day you realize your child isn’t a child anymore, or the day you realize that you’re not as young as you think you are.