My Worst Pick Ever

[nunthewiser]

QTM

MANY years ago

bought the wrong end of a team inspired sting due to pure greed.

caught with pants down and cost me 46%

i still have the tshirt

Taught me a valuable lesson though.

 

[nulla nulla]

QTM

MANY years ago

bought the wrong end of a team inspired sting due to pure greed.

caught with pants down and cost me 46%

i still have the tshirt

Taught me a valuable lesson though.

At $30.00 for the shirt plus freight $5.00, you owe me $35.00 plus interest at 8% compounding...... QTM was also my worst but taught me to have a very healthy wariness of rampers and ramped stocks.

 

[burglar]

Too embarrassed to say my biggest loss. Was an absolute whopper.

On a related note - lol - a quite reliable contrarian sentiment indicator is Hotcopper. Some examples are:
1. when posters start threads such as "predict today's closing price" "what will it open at tomorrow?"
2. share price stalls and posters start rationalising by repeating how good the fundamentals are. "10 reasons why I am holding" - type of post. The words are positive, the sentiment is desperate.
3. Someone posts a negative comment and gets hammered by the others and moderated for down-ramping by a moderator who holds the same stock.

Thank you for the insight, Gringotts Bank

The MGK saga continues:

http://www.asx.com.au/asxpdf/20031212/pdf/3k31xh1s1tddy.pdf

An offtake agreement ?
"ThyssenKrupp Offtake Agreement Extended "
91,000 Tonnes per annum of non existant Magnesium

Ok! Obviously the big name and the big numbers ramp up the Share Price.
Now along comes the Share Purchase Plan (these guys are good!)

"Completion of Shareholder Share Purchase Scheme "

http://www.asx.com.au/asxpdf/20031222/pdf/3k67f21xp0133.pdf

Sorry, I can't cut and paste from .pdf
In my opinion, a little peek is instructive.

What dumb things have I done since buying them in Oct 2000?

I'd been making profits on TIR_Titan Resources!
Ploughed them into PAL then MIL now MGK at 22 Dec 2003
Remember, the same company but with name changed.
In my plan, I was accumulating upto a $4,000 position and holding for the Long Term.
I broke from my plan, the SPP at a premium, looked so attractive.
I took the maximum - $5,000

I'll leave it here for now!
Thanks for sharing!
burglar
I'm not embarrassed 'cos I'm hiding behind an avatar.

 

[nulla nulla]

My missus bagged me for losing out on qtm but then she bought Zinifex.

 

[nunthewiser]

At $30.00 for the shirt plus freight $5.00, you owe me $35.00 plus interest at 8% compounding........ .

Im on a mission from God.

I think at least a tshirt donation is appropriate

My missus bagged me for losing out on qtm

I sold mine to pay for it

 

[nulla nulla]

Im on a mission from God.

I think at least a tshirt donation is appropriate

Allright, just send me a receipt so I can claim the donation as a tax write off.

 

[lianeisme]

OOOOOH it's so hard
I have had so many but my major
would be CTO
followed BY ELD
Close third BSL
and lucky last QBE
I'm sure 3 out of 4 will come back but when???????????

 

[burglar]

I wanna tshirt that says

"I survived the GFC"

 

[So_Cynical]

My worst pick and biggest loser in dollar terms was/is CTO got serious in April this year and turned the paper loss into a proper loss 66.9% my biggest percentage loser was ARJ - Ark fund, a agricultural real estate trust with only one customer (MIS operator) and a truck load of debt....100% loss.

I would like to think ive learnt enough to not make mistakes like that again.
~

 

[McCoy Pauley]

My worst pick ever?

Telstra.

Bloody dog of a stock.

Mind you, I only bought stock in the T1 float, so I'm not as badly off as some.

 

[DB008]

ROG - Still holding. Down about 45% at the moment on this bad boy.

 

[burglar]

I reckon CVI fits all of the above.
Although I'm "only" $3K out of pocket, I'd rather not say what I'd like to do to Mr Smythe and even more so to the persuasive eggspurt that talked me into it.

Yes, I know - it's my own fault and responsibility and I've been kicking myself more than anybody else

"only" $3K is more like $12k in future money. You are right to be angry.

I had a peak at CVI, a text book "falling knife".

persuasive eggspurt! lol I so love internet trading, I make my own mistakes.

 

[burglar]

QTM

MANY years ago

bought the wrong end of a team inspired sting due to pure greed.

caught with pants down and cost me 46%

i still have the tshirt

Taught me a valuable lesson though.

lol a nun with pants down ... that's priceless!
"Bless me father ... "

 

[burglar]

Liquidity issue too, you cant place a stop thats triggers a sell for 10% of the market cap

SQ, Pls elaborate, preferably in monosyllables and without excess jargon.
Afterall, I'm only a humble burglar and newbie !

 

[awg]

SQ, Pls elaborate, preferably in monosyllables and without excess jargon.
Afterall, I'm only a humble burglar and newbie !

SQ might perhaps be refering to the fact that stop losses cannot always be placed to protect oneself, especially with low liquidity stocks.

Same if they gap thru your stop, normally as a result of a Trading Halt.

With repect to earlier ref to BEPPA was an ASX code, not anymore

 

[burglar]

SQ might perhaps be refering to the fact that stop losses cannot always be placed to protect oneself, especially with low liquidity stocks.

Same if they gap thru your stop, normally as a result of a Trading Halt.

With repect to earlier ref to BEPPA was an ASX code, not anymore

Thanks AWG,

Was it Babcock and Brown Infrastructure or some such thing? I'm not so much interested in making a list of companies. But there would be a lesson here if BEPPA was associated with a high debt company in face of a heavy downturn like B&B (or Centro or ABC learning) I am making sense?

 

[awg]

Thanks AWG,

Was it Babcock and Brown Infrastructure or some such thing? I'm not so much interested in making a list of companies. But there would be a lesson here if BEPPA was associated with a high debt company in face of a heavy downturn like B&B (or Centro or ABC learning) I am making sense?

To grossly oversimplify the story, BEPPA was more secured BBI corporate debt/bondholders, hammered down to a few cents in the dollar, possibly determing the future ownership of a very valuable coal export terminal, very high chance of going belly-up, and they get nothing, but got bought out for about 40c/$.

 

[burglar]

AWG,

“Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain

I've not seen the cut of your Jib.
But, by Jiminy, you got a nice set of wheels!

Cheers Matey,
burglar

 

[burglar]

Not all of us!

Had strings of smaller losses.
Find that preferable to big hits.
You tend to live to fight another day.

Maybe you're Worst Pick Ever was a sold too early story, you know, the Motza that got away.
Go on. Dont be shy!



When a duck talks, I listen!

 

[luke256]

This post is hilarious. I had a look at the charts that people lost big money on and they were all trending downwards on the monthly high/low charts.

Possibly if you are in that boat (50% plus losses on one stock) you should print out monthly charts before buying. Take it to a 5 year old and ask them which way the lines are going. If they say down DON'T BUY IT!