RE: Great lesson in these words!30 Sep 2021 22:40
Very wise words indeed…
I have told this story before some believe me some don’t, but it’s a fact and a good example of what you are talking about.
Several years ago, I was reading a publication called Aim and Offex news and in it was an add about a placing for As Seen On Screen which as we know much later became ASOS. They were selling playboy branded bags and all kinds of stuff and were an unknown.
The placing was on the AIM at 5p.i had £15k in an account doing nothing and thought, the internet is taking off, sales are picking up I will give it a go and I subscribed for 300,000 shares at 5p.
About 9 mths later the shares were doing sweet FA and worse, I had read in the papers that the main warehouse had burnt down, I thought for crying out loud this investment is turning really ****. so much so, I phoned Nick Robertson at ASOS, he actually took SH calls back then and I said Nick, I have been holding shares in your business for getting on for a year looks like I will never see a return. We had a long chat and he kindly told me about some of the products and what they were doing obviously he couldn’t give investment advise but I thought, what a great guy, he really is trying to make a difference and is overcoming some real challenges, as a result I decided to stay invested.
By about the 18mth point, results were starting to look good for them and the share price was climbing a little, it went to 10p, and I was thinking ohh I have doubled my money, money, made 15k what do I do?, I had less experience then. I stuck with it, by the 24 mth point the Shares were now at 15p and at this point I had a bit of a sweat on, I can’t lie. I thought I have £45k here, arse was half a crown a sixpence, I need to cash in. I did just that, I don’t even remember now what I spent the cash on, couldn’t tell you but I now know this:
Had I not sold out and just shut them away in a draw ignoring the highs and lows over the years the SP today is 3,016.00p in other words my £15k would be worth £9m
So, point is I totally agree with Iceman, you can get buying and selling points wrong, but time is your biggest weapon in securing MAJOR returns, even those who invested here at £11 might be feeling the pain now but who’s to say that in ten years time the SP here isn’t a serious multiple of that. It can happen…
I’m going the distance here anyhow,
GLA whatever your call
Pork’s