The "big buyer" is more like big buyers who sold a month ago and can buy them all back and keep the change. I'm out with a house deposit and might not touch the sharemarket ever again. Easy to say when you're ahead, I know. I bought at IPO (certainly no insto) and sold small portions everywhere up to the $1.70's, but the majority in the last few weeks below 50c. Hard to watch a 12-months 9-bagger dissolve into a 2-year 2.5 bags but if my dream house hadn't come along in August I wouldn't have sold a huge chunk around $1. At the time, it was the hardest thing to do and it wa only that timing that prevented me losing so much of my paper profit. 12 months ago, I was a paper millionaire and prepared to ride it down in order to become a paper multimillionaire. Now, I feel more fortunate than I deserve that my 5 year-old seems able to understand that all my distraction, absence and moods on our days off together have somehow paid off. I've got a home and kept my family at the end of it and not through my best judgement or experience. 10% of investors actually make money and a majority of them are season, educated professionals. I feel like I wagered my soul with the Devil and somehow snaked the b4stard.
I'm not trying to sway anyone's investment decisions but there are a lot of reasons for a bearish outlook, Brexit being probably the most imminent. If, like me, you jumped on to pot stocks with a simplistic outlook on fundamentals, you probably did it too late if it was any time after mid-2017. You, like me, essentially gambled and I hope that you didn't pour 8 years of property investing into your fuel tank, as I did. Most of my pot stocks lost money but by some act of grace I sold a few of them at a good time, even though I didn't know it at the time. There were others I sold for meagre profits which could have added up to hundreds of thousands if I'd been luckier, the reality of which taxed me mentally and emotionally as if I'd actually lost that money.
I'll still say that shares are better than gambling because you can't ask for 90% of your money back when your horse jumps the gate late, or even 50%, but FFS have an amount in mind that you're happy to lose when you buy in and set that stop loss. If you don't know what that means, think twice.
-A humbled fool who got lucky.
AC8 Price at posting:
44.0¢ Sentiment: None Disclosure: Not Held
