asic intervention, page-41

While I may agree champ can be an arrogant chump and he tends to talk in an inflammatory tone, his point of view is spot on. Champ did all he could to counter act the situation he had found himself in.

He found he didnt like the company. The way they acted, the way they conducted business on his behalf was not upto scratch and as such he sold his stake in said business. He didnt try to mete outlandish punishment on the company, he just moved, rolled up his sleeves and tried to better his strategy.

Very little of what these guys have done would be truly 'illegal'. Maybe misquoting JORC figures along the way and including some 'expected' completion dates for their mines which were abit outdated. Apart from that, they are 'sort of' doing everything they're saying, just slowly and blowing heaps of money in the process.

There is a reason why these companies have 1-2 pages of warnings about forward looking statements. It covers them from any of these types of suits. You are told of the risks before you invest.

At some stage, on the stockmarket and in life, you have to take personal responsibility for your own actions. Instead of saying "There is nothing I could have done differently I need ASIC to punish every company I invest in that makes me a loss". You should say "I made fundamental errors in my investment strategy, I made a very bad decision, what can I do to make a better decision next time"...

That, in my opinion, is how you become a successful investor.

Everyone makes losses. Good investors stem the bleeding, re-group and learn.

Bad investors find anyway possible to remove personal responsibility from their own shoulders.

I've seen people blame:
the company,
the bots,
the management,
Europe,
China,
The US,
The Carbon Tax
The Mining Tax
Gillard
Rudd
Labor
Liberal
The Fed,
Goldman Sachs,
The New World Order,
The silver manipulators,
ASIC,
their trading platform.
And More for their losses. You'll see all of these factors blamed multiple times on HC for losses suffered.Yet rarely does someone comes on here and say:

"I made such a bad investment decision, my strategy sucks, I really need to lift my game"