There was a certain biotech ETF I started eyeing last December. I had looked at a few biotech mutual funds and ETFs and, after researching which companies were the dominant holdings, I settled on one of the funds. Before I could get around to actually buying, though, the price started to rise. So I waited. And waited. You know how this story ends. (As I write this, the ETF I had settled on, but never bought, is up 124% for the year.)

I've tried (without any success, actually) to take solace in the fact that, while I didn't double my money, at least I didn't lose any money - unlike the time I read about a company that had developed ways to amplify certain flavors and smells in foods. Brilliant concept, I thought, and I love getting investment ideas from stories that aren't pushing a company's stock. I bought some shares. Many months later, I sold for a large gain. And naturally, I congratulated myself on my investment prowess.

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