RE: invest7 Oct 2020 22:38
Terrible decision to ride BP down to Β£2.18 if someone was to do that, it was quite clear in the early days of the pandemic that a lot of the FTSE and especially oil stocks would react terribly and hence it would be time to get out and get back in lower. There was still loads of time to get out at Β£4.50.
You could have told someone to take profits of EUA at 15p and if they had done that would have missed out on doubling what they already had.
It is never black and white of taking profits and running with them, I read a lot about people saying protect your profits, but you really need to understand what you are investing in, it's not just a matter of you lost your money, you should understand why. Intrinsic value will always win in the end, and EUA has incredible value.
Look at JD Sports, dropped down from Β£8 to Β£4 and now it is nearly back to Β£8, because the fundementals remained strong and it is a very profitable business.