VTG valuation guesswork, page-27

When bottom fishing I nearly always buy in 3's and I always have a total spend limit pre-determined before I start the first 'bite'. The question of setting effective stop losses is a tricky one so I don't tend to set one in these 'steep fall' situations. Worst case: I lose all of this 'grab at value' if company goes bankrupt or if they dilute shares to oblivion. I only do bottom fishing with bait that I can afford to lose on a 'whole of portfolio basis' and when I believe the bottom is closer than the upside ceiling (assuming the ship steadies). Wow lots of metaphors!