Here is what I know luckbud. I sold out at open yesterday morning. Firstly, I have no interest in holding a stock that is not listed on the ASX. If I did, I certainly wouldn't pick CBD. They've continually stuffed up over the past 12-18 months and failed to keep the market informed (or informed in a timely manner). They continued to blame the government when they didn't act quickly enough. They've been pouring money down the sink (see Neighbourhood Energy failed takeover, failed China JV, failed aust. solar production facility, the Westinghouse investment is down 87% already or something around that mark). They haven't managed their capital well enough. They continue to blame the Australian stock market for the share price when.. well.. see above.
My biggest lesson was not selling when I saw the first quarterly of this FY where the revenue dried up. My next lesson was not trusting my gut regarding some of the above points. I've noticed companies on the market don't often hide good news so in future I will try to remember that no news is more often than not, bad news. I then got to the point where my holding was only small and figured it wasn't worth selling out - wrong again. I was lucky that I didn't have that much invested to start with and I'm hoping the lessons learned will pay dividends in future.
In summary - these guys failed miserably, but I blame myself 100% for my loss on this one.
Hoping someone can learn something from my experience.
Cheers
CBD Price at posting:
2.0¢ Sentiment: Sell Disclosure: Not Held
