I went shopping for diapers at Amazon (AMZN) today, and I discovered a big mistake. I use an old email account for my Amazon account, which is also the same email address that I use for my Marketocracy account. I haven’t check this email address in well over a week. I found the following email in there today:
Your ticket to buy 2000 shares of KFT at $30.0000, created at 09:23 Feb 15
completed at 10:00 Mar 14. 2000 shares were bought at a net average price of $30.0493 including commissions and fees.
Oh no, it looks like I forgot all about an old limit order I made back in February. Kraft is a great company, and I thought $30 would be a great price to pick it up at when I learned Warren Buffett bought some shares. However, after Berkshire Hathaway (BRK-A) disclosed its Kraft holding, the stock went up above $30. I guess during last Friday’s panic associated with the Bear Stearns (BSC) collapse, Kraft shares traded below $30 and my Marketocracy account bought the shares automatically.
I want to apologize for not disclosing this Fat Pitch Financials Portfolio buy earlier. I’m rather embarrassed that I made this mistake. However, I kind of wish I had a real world limit order in place so that I would also have bought Kraft in my own account. This is the first time that the Fat Pitch Financials Portfolio has a stock that I don’t actually really own. Maybe I’ll correct that discrepancy in the next few days. The lesson here is to avoid having too many email addresses and to keep a close eye on limit orders.
Disclosure: I do not own KFT at this time, but I may buy some shares in the near future.