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Calamari,
Just purchased. top man.
Just purchased "Reminiscences of a Stock Operator" on Amazon Prime for my Kindle. Thanks!
Ant, there are many of us in the same boat. Or in my case, a rusty old canoe with holes in. I spread my eggs across multiple baskets (GKP, Weatherly, Range and others) and until the last few months, wished I HAD kept in one basket. However, having taken some out when the price was around 11p, I'm keeping the majority in here as taking out what's left wouldn't help my current mindset. A few thousand quid but still with massive regrets and sleepless nights...I may as well throw the last dice! Ha, maybe we should set up an SXX helpline, for those that would benefit from a chat with fellow sufferers?
Oh and don't let the douchebags get you down - there's always some p.o.s. who takes joy in kicking people when they're down. The price of an anonymous bb, sadly.
Ant,
I have been where you are too - some 15/20 years ago. Do nothing for now and be thankful for what you have (family and health). Watch the market, there will be an opportunity in due course (be very patient) where a nugget will appear and your £10k becomes £70k in no time. Plenty of guys here will be feeling for you. Have a walk in the park with your family. Get a dog - a great stress reliever! ATB
Truth hurts sometimes
Buck I'm interested in which stocks you do rate, seen you on TCG and here and though many people take your posts as negative they tend to be right (even if its not what we want to hear)
Dan. With all due respect shut TFU
Stop all these sob stories, you gambled and lost, move on stop asking for sympathy. You didn’t have to put all your money into a penny share, gambling is gambling.
I'm sure i will at some point recover but i now believe this wont be with Sirius as its now a game changer. My original sell was 2030 but Many hills to climb and bridges to build before this stock if is not wiped out will recover. There is a calculated risk and then theres being reckless.
Thank to everyone that took time out to respound to my tail of woe.
Ant, I feel for you.
I had 4 egg boxes in AIM and one tray in the FTSE for 16% dividends!
Splitting the start ups has not done me any good yet.
Avanti are out of the FTSE entirely, US Oil and Gas are still lost somewhere in the desert, untradeable for years, SXX we are familiar with, and TLOU energy is in the melting pot! I am hoping gold will start flowing before the contents evaporate there!
All of them looked sure things and still might come good.
And my blue chip was HMV whose profits were 'marginally down' - and I believed it! I doubt I could have lost as much paper money on the turf! Only my blue chip is definitely dead - I am sorry afor the day a taxi driver gave me an old copy of Red Hot Penny shares!
I felt sorry for him! He had to sell SXX at 28p to settle his divorce and the price went into the 30's!
He owes his ex-wife for divorcing him big time!
Suspect many investors, who are prepared to admit it have their own stories. I lost a lot of money many years ago, continually averaging down on Marconi, that once huge ( to big to go under, government will bail out etc) company where recovery was only a few weeks away. Recovery was not there and this lesson has stopped me averaging down since.
Ant77, poignant story and perhaps a lesson for us all. I can appreciate what you are going through. About 2 years ago I bought Petrofac just before the price crashed from 660p to around 4 quid after they released an RNS that wasn’t needed but spooked the market. Long story short - I kept averaging down all the way to just above 4 quid. I was eventually “in” for £200 grand all told at an average well above the share price. I was nearly £35 grand down and had many a sleepless night. It seemed hopeless at times and I dreaded the missus ever finding out. The share price stagnated for quite a while and I was deeply depressed and felt like a fool and a failure.
However, I held my nerve because I knew in time it would recover. It was a long road, but eventually the price started climbing and past my cheaper buy-ins. Eventually I got back to break-even after many dark days. It felt like the world had been lifted off imy shoulders. I eventually sold with an £8500 profit which wasn’t much compensation for months of anguish and sleepless nights but what it does show is that all is never lost despite how dark it seems at the time.
Keep your chin up fella, think about what’s REALLY important to you and keep believing that you will get back your losses and then some. You will have to bide your time and it won’t be easy, but it will recover - eventually.
You sound like a shrewd chap who had a sensible strategy but just got carried away. It’s an easy mistake to make and one that most of us have done at some point.
You’ll be ok :)
Ant, that is very bad luck. I am sorry to hear your news. I stayed away SXX, but for a year the commentators were really pushing and recommending this, and it's easily to get sucked in. I am king of getting suckered in...…if it's a ****e old share, then I've been in it!!!. Even with the FTSE shares, it's not about making huge gains, it's almost holding on to negate losses. I have invested for about 5 years. I lost 18k in the first two years, then made 4k profit I think in year 3, and for the last 2 years, I have just broken even with my pot; which stand at about 60k. Sadly if I had have stuck it in a no-interest high street bank, my 60k would be worth 74k'ish. Onward and upwards. Just think, it'll make you a wiser investor in the future...if you choose to keep investing.
You'll come back stronger and you have to take risks to know what's at stake. I don't regret my decision to buy and hold and I'll continue to hold. I'd rather lose the lot and learn from it than see SXX rise from the ashes with me on the sidelines. The way I look at it now is that if good news does come and the sp rebounds I've got plenty of room to average down on the way back up. Needs very good news though.
Any there is no reason to feel stupid or embarrassed...your motives were straight forward and you like many have lost money here...dust yourself down, get back to work and try and picture your daughter making you laugh. It is only money and there are many not with us today who would have liked the options you have available to you.
there's a lot of us in that position Ant, you still have a lot to contribute and it could have been a lot worse believe it or not so keep your chin up and keep those dark thoughts out of your head!
good luck mate, it's easy to say but it is only money. Health & family are much more important.
This is my first post on this board.
I'm still digesting whats happened over the last week.
I'm self employed and kept my lifestyle at low cost so i could build for the future and put my isa allowance of 20K into my account. 80k was spread over FSTE 100 shares paying 4-6 % dividends also these shares were mostly going up 2-3 %. Also had a chunk in the FTSE 250 tracker that paid a 3% dividend. All in all was gaining some ground making £200-400 a month tax free give or take. I've read the 'Snow Ball' by Warren Buffet and understood the strengh of compounding over time.... 'Making money is like watching paint dry'! BOARING.
SXX came into my life and like many people i loved the idea of this company and was quite proud it was going on in the uk and the ambition of it was somthing to be admired.
Brought 10k it went down , brought some more. All the articles were saying 'when the bonds sell' and was totally sucked in and kept buying and buying trying to average down. 'when the bonds sell this share will be back up to 30-50p' amazing! 'Going to hit the big time' buy a knew house blah blah.
Put my last bit of money in when the share went to 14p. Was totally and embarrassingly confident that this was going to happen as so i guess everyone was, as there are now so many people in the same boat!
I feel such a fool and broke the rules 'eggs in baskets' but im now in quite a dark place. i do not live in a particularly wealthy area and who do you talk to about it? 'Hows it going mate'? 'yeah good just lost 70K being a foolish and greedy' very very embarrasing.
Had to take a day off today just to reflect on my stupidity, lick my wounds and make a plan to rebuild.. i guess all in all there is nothing wrong in making a mistake as long as you learn from it. Really really expensive mistake. Gutted.
So i'm out with my tail between my legs and 10k. I still have my health an amazing women in my life and a daughter which is worth more than money but the feeling of being a let down to them im sure will take a long time to shake off but i will never give up the faith..... This time next year Rodney.
Good luck to all of you
Ant