fantastic market reaction, page-115

Quackie, I actually used that example because i did it during the dot com boom bust. I bought a share called Davnet (DVT) if anyone remembers it. I bought 10,000 shares at 35c ($3,500 investment) in about 1998 or 99. I remember the day they hit $1 i wanted to buy more but just couldn't bring myself to bring my average from 35c to 70ish cents and just couldn't justify paying more than the bargain i got them for.

Anyway, the stock went crazy and peaked at $6. I was too young to experience the 87 stock market crash and thought a trend having a mobile phone and the grunge look. Then it was April 2000 from memory. The bubble burst and my DVT started plunging. Because i had followed the stock, i knew a lot about it and loved its story. So, when they hit $4 I bought a decent chunk thinking that i had picked the bottom of its plunge.

Long story short, my profit went from being around $60k to actually losing on the investment when i sold out for $1 something. I remember the last time i looked many many years ago, they were 6c and i think they went out the back door.

I laugh about it now, but gee i had some sleepless nights checking bloomberg and sitting on my new computer with this new thing called the internet which was bringing everyone riches.

As i said, I have a few scars on my hands to prove it. Unfortunately, have had a few more since, but never too old to learn from your mistakes.