Last week9 Sep 2018 15:00
I think last week is a good judge as to whether you are comfortable with your investment. SXX did exactly what some of those pompous arrogant men that I have argued with over too many proseccos did. But to me at a very basic level and why I argued with them was ‘things change’. They pointed out about going over budget, delays, risk etc. In a project like this how do you know unexpected conditions weren’t set for Stage 2, is it so unreasonable that those experts now involved, who weren’t before, came up new stipulations? I’ve always thought things change and you have to sometimes change your mind to go a better route, obviously this is so basic but look how often it happens in day to day life. I’ve always thought with the hugest project in U.K. at the moment it’s not always going to go to plan. What threw me slightly was the lack of control you have if things do affect the share price - you wake up one morning and it’s too late to do anything, also how some shareholders sold way below what they had set with the stop losses they did. It was disappointing that ordinary shareholders lost out to ‘those in the know’. But I can hear people saying ‘this isn’t a game, it’s cut throat business’. But at the end of the day it’s easy to play safe, buy shares when they are proven - £35 for Rio Tinto, £5.36 for BP (hope I’ve got that right). The hope is that LTHs will do better than those than come in when it’s de-risked - they so deserve to. But there are no guarantees. Hopefully the way it will work is that although on paper they may be showing losses, and not seem to making as much money as everyone else over the next years they will end up with way more shares and be rewarded for their patience, loyalty and ability to back a good horse/ship/star. It’s hard on a board like this bec everyone’s money situation is different, it depends on what you can afford to lose, how old you are - it’s all very well for millionaires to take that risk, but everyone knows their own individual circumstances. Originally I invested for all the wrong reasons, (prob why I got into arguments) - the name Woodsmith, fate, the story but also a couple of years down the line I’m investing in CF, BOD and the business side and also what I can see with my own eyes. This isn’t like Stage 1 - anyone can see that - we are actually building a mine and it’s happening
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