Below is a post of mine as a relative newcomer in 2011..
Just thought id repost it considering we are coming up to AGM. Funny how things DONT change ….. NOT..
Its never as bad as it seems ... 18 months ago i was sitting in my backyard with a mate chewing the fat ... For some reason the topic of conversation shifted into investing and shares . My mate told me about a mate of his who had a successful run on shares . He went into great detail about a company that had these amazing permits in the Philippines searching for oil .. I dont know why , as id never considered shares , but this seriously grabbed my attention.. I did a little bit of research and decided to jump on board . I started buying in minimum parcels of $500 .. this soon turned into thousands ... To make a long story short ,by the lead up to Tindaloo i had accumulated 20k worth of shares . For someone who only buys a lotto ticket every now and then , this was a big percentage of my yearly income . I had broken the golden rule - dont put all of your eggs - from the paddling duck - in one basket . I , as a lamen have got some serious gripes with the way management wish to treat shareholders , owners of their company . The way reporting and updates are given to shareholders is truly unbelievable , i really cant get my head around this . Truly amazing .. Dont even start me on performance rites . In saying this I have had faith that they would get it right . I bought more last week @ 9.3 last week - i thought id bought well , but what do you know ... i was on a slippery slide with only one speed down - super turbo - I think im both stupid and hooked on the adrenalin for i have done it again . I bought more @ 4.3 today .. I did this purely to average down and to lower my exit point .. I'm not sure my strategy is viable or will ever work . Time will tell .. I have written this in sympathy with any other holder that might be feeling the pain . Just remember in the grand scheme of things , if youve got your health , friends and love in your life things aint that bad . Nothing is for certain and the stock market is a very cruel mistress ... Im here for a while longer now , so strat , p1000 , ya ,funky - keep up the good work in keeping the bastards honest .. I hope there is a way forward . Which way from here ????
NDO Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
