That works out to $76,000 investment. As an ultra conservative investor, you are telling us you dropped $76K on the Venture? And then you sold 33% of your position at about 75% loss?
Something sure doesn't sound right.
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This is so typical of you, Sibiu.
You ask me a question and I give you an honest (and detailed) answer and you accuse me of being a liar.
I never said I was ultra conservative - thats you trying to put words in my mouth. I said "most of my portfolio is either blue chip or medium risk/mutual funds". Maybe that is ultra conservative to you, but I don't think so?
Yes I did drop it on the venture, about $76k on what I thought was a sure thing. With negative copper and Salazar we were all set to be rich. I got swept up in the excitement, got greedy and WAY overbought (I would think the all caps would have acentuated the point earlier). I thought at the time it was smart but realize now it was a massive mistake and a painful lesson learned. I even sold off my CP Rail stocks at $68 (now over $200) to buy CF shares.
I have made mistakes, and unlike some here - am not afraid to admit it.
Another lesson I am starting to learn is to not hold, but trade to try and recover some of my losses. I sold 20k at 22 cents with the intention of buying back in at 15 cents. You mock it, but it would have yeilded me more shares for free - better than just holding and waiting. After watching the cycle repeat over and over I jumped in.
I saw TCK.B really low so I used that money (and some new money too) to buy at 6.72 last week instead. Now at 9.53 and a good upward trend I think it was a good move vs just holding and hoping.
Personally, I think a production decision is a fair ways off so I am not worried about missing the real run up or not being able to get back in before a production decison is dropped. So much has to improve market-wise IMHO.
It may be a mistake, but it is mine to make...