Yesterday3 Mar 2022 09:09
Yesterday someone asked why I would buy shares in POG, when predicting that the sp would drop further. I wanted to address this, and explain my logic.
Many on this board appear to profess some deep knowledge of the markets, and predict the way things will go with some level of so-called expertise. I am not one of those. I am happy to say that I don’t have the knowledge that 99% of those on here, who do have, seem to get wrong time and again.
My average sp in POG was high, so I decided (for reasons explained in my original message) to buy-in at just over 3p. I predicted the sp would drop further, based purely on the market sentiment and the obvious conflict. I didn’t know it would drop further. However, by buying in I was able to significantly reduce my average. Significantly. Sure, the price has dropped further and perhaps this will present an opportunity to buy-in again. However, my average is now far lower. If I’d not bought in when I did, thinking “it’ll sink lower” and it didn’t, I’d of kicked myself.
So, for me the logic is obvious. Each to their own.
Finally, I did hold shares at this price around a decade ago. I think I read a few comments asking if it had ever sunk this low. It has, but in a decade a company changes a great deal. We can’t compare them to now.
All the best gang. This conflict is about Putin and his dwarfs, not the normal hardworking, polite, nice everyday Russians. Bless those people whose suffering is at the hands of this tyrant.