Fools can’t touch these 5 FTSE 350 flops with a bargepole – how come I own 3 of them?

Three FTSE 350 flops were stinking up my portfolio, so I didn’t need to be reminded that I had made a costly mistake by buying them.

But that’s what I found out last week, when you were a stranger Motley Fool the authors named five FTSE 350 companies that they thought would collapse. All three of my flops were on the list, throwing a bucket of cold water in the hope that I would recover.

I was not surprised to see a luxury car maker Aston Martin Holdings share price (LSE: AML) there. I felt I made a terrible mistake when I bought it. It has erupted seven times in just over a century.

Can Aston Martin get into gear?

The 2019 flotation was supposed to signal a new beginning, instead shares were down 96% when I entered on 16 September. They are also down 35.63% since then. In 12 months they crashed by 56.41%.

Stupid writer Paul Summers noted that Aston Martin is burdened with a total debt of £1.3bn, making it a paltry market capitalization of today’s £872m.

Hope springs eternal and I was happy to see the team’s Q3 losses were less than expected. That’s something isn’t it?

Even Paul admitted that volumes and profits should rise in the second half of 2024. He called Aston Martin a. “punt stock” and that’s exactly what I’m dealing with. So far, it’s been a losing bet but I still think there’s a chance for new CEO Adrian Hallmark to turn things around.

I was not surprised to see Burberry (LSE: BRBY) on the flop list. This is another luxury stock that has been crushed by rising Chinese demand.

Burberry’s share price is down 42.36% in the last 12 months but here’s the thing.

I actually did very well this past month, again up 26.19%. Sales are down but new CEO Joshua Schulman’s new ‘Burberry Forward’ strategy appears to be playing to the brand’s strengths. Rumors of a takeover bid since Moncler they have made others happy.

Burberry’s price is flying (for now)

Partner Fol Royston Wild admitted he appointed industry veteran Schulman “it may indicate a masterstroke”but he warned of tough times for luxury stocks. I will continue and hope that my recent winnings will continue.

And my last flop? Grocer, e-commerce and logistics business Ocado The group (LSE: OCDO).

I FTSE 250 stock business brilliant on paper, but a nightmare in practice. It has been investing in its state-of-the-art customer fulfillment centers, while failing to turn a profit despite winning major customers.

As the idiot writer James Beard pointed out, he borrowed heavily to invest in smart technology but didn’t turn a profit for years. Worse, there is no immediate prospect that it will.

This is another stock I bought after the crash. Of this 85%. I thought Ocado might take off if interest rates and borrowing costs came down. But due to sticky inflation that situation has not yet been reached. Ocado’s share price has fallen by 46.07% compared to last year. I’ll hold on and hope, but I won’t buy more.

All three were huge flops before I bought them. They taught me a hard lesson about bottom fishing. However, while they are down, I don’t think they are out. I noticed that on days when the FTSE 350 goes up, these three go up quickly. If we get a bull run, they might just take the lead.