While it came as a shock to me to admit what a screw-up I'd made of my investment decision and the hit I'd have to take if there was going to be a chance of any kind of recovery the deed had to be done.
And I'm so bloody stupid (with 20/20 rear-vision) I was one of the last to bale.
After crawling away with the pitiful amount left over I was able to start re-inventing myself, hopefully a bit wiser from the experience.
I'm a billion miles away from recovery - in fact it's unlikely I ever will in my lifetime - but have been able to exploit some opportunities that have arisen and made some dosh on the way that I wouldn't have been able to if I'd been sitting on my bum waiting for this dead dog to come alive.
I'm amazed that other people who seem to think they have investment skills are still contemplating a sudden recovery and a bright future for Slater & Gordon, which isn't Slater & Gordon.
Maybe because the SP is packaged to look like it's worth $3 - makes them forget it's only 3 cents in the old money.
For most of them the SP would have to go to at least $70 for them to even break even - and I don't care how good SGH will ever be, it ain't going to be there again - for them.
Maybe I'm missing something but why wouldn't any investor bail out with whatever they have left and use it for something that has a chance to earn them something and, if their dreams come true and AC resurrects this bag of crap into something worth looking at again, they can come back - and likely with more capital they've made on the way to play with.
For my part, and my partner Blind Freddie - got some play things we expect to come good - and even if they don't, the divis we've got so far, and those we'll be receiving in a couple of months - certainly represent better value than SGH will ever be in our lifetimes.
Others, in a similar situation, are also reporting they're better off by shedding SGH and getting on with their lives.
IMO , those that don't, who continue to post here, (including those really, really, CLEVER ones), need counseling.
Reading the posts is fun - just like old times.
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