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clock Created with Sketch. 10/03/18
07:35
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Originally posted by songokou
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Liked. Applies especially to the manic speculation & plain wishful thinking of many techs- BUD springs to mind. A SP of 45c down to 18c now over 3 mths ( 60% loss) means market has already passed judgement on the stock. Is it in a position to possibly bounce strongly- sure possibly yes but not without heavy selling into any strength in the stock, meaning until a substantial number of back to back deals to accrual revenue- could go lower before it can go higher. Directors sold big 20c - 24c doesn't help. And 'investing' as a bottom of drawer proposition. Is a laugh if you dont mind there will be nothing at the bottom of the drawer possibly in 2 yrs. I imagine GSW was in a much worst case.“If you can't think about owning that stock for 10 years, don’t even think about owning it for 10 minutes.” “Rule No. 1: Never lose money. Rule No. 2: Never forget rule No.1”
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This is a rather humorous conversation when you consider Ronnie bought GSW and BUD ridiculously high. And lost money on both. Just ask him. He owned both.
