You sold SKF at the right time then. Good for you!
JPR - if something really bad happens, you are sunk. Say, like another in-continent major terrorism attack. Or if a too big to fail does. If SKF works the way it has, you'll lose about half and I'll gain 5200% or more, if the market drops in the 50% range. The last few days have shown me I made the right decision.
That's the value of a hedge - insurance.
What skf has done for me the last few days is allowed me to sleep. My position essentially stayed flat through this bump.
IF SKF went to 10 bucks, I would hurt a bit, but would not be ruined. In fact, I'd be ahead since obviously the market would be roaring for skf to go to 10 and my other investments would grow. So 217k gamble nets me some negative offset to the others but I am still close to even.
Likewise, if SKF went to 4000 bucks (as it did in 2009, twice), I would be way ahead then the losses experienced by the market turning so sour that SKF went to 4000. What's that 250k@76 worth? 13mm+.
Just my 2 cents.
Play 'em as you see 'em.
I just do not believe the market is realistic. A real number is less than 15,000. Maybe way less; who knows how much crap has again penetrated the financial markets. I am banking on the downswing, and actually hedging that thought with my other investments.
And to be clear - make your own mind up about investments. I am not an adviser nor a pro, just a dumb luck jerk who has no right nor ability to recommend anything to anybody.