Picking Apart Past Calls

This column was originally published on RealMoney on Dec. 14 at 2 p.m. EST. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

As we head into year-end, it's human nature to reflect on our successes and evaluate our disappointments. Over the course of 2006, I've written about my share of winners on RealMoney and also in my Stocks Under $10 newsletter. In fairness, though, I'd like to address some of my calls that haven't lived up to my expectations. After all, the markets have a tendency to humble us from time to time. In the process of reviewing these, other investors might be able to learn from my mistakes.

Off Target

Back in June, I said that Target (TGT Quote) would head lower on the basis of higher energy prices (oil was above $70 a barrel at the time) and competitive threats from Wal-Mart (WMT Quote). Target is known for attracting high-paying consumers, and Wal-Mart is planning to restructure 1,800 stores to focus more on that demographic. ...