karasko - how u doing?, page-2

Wachito

I subscribned to 2,562,500 shares in GPT the entitlement plus 25%

I got my Bank to cover me for the intial 2,050,000 shares which were allocted 7 days after and sold them for an average profit of 15.0 cents per share, repaid the temporary overdraft and reduced my Margin Loan with the profits.

I was allocated the additional 512,500 or 25% last week and still hold them. I now hold 2,562,500 GPT.

Overall my losses are now manageable and I am in for the long haul.

Unlike Stabilo I have confidence in GMG, GPT & IIF even though I hold on a margin loan.

I went through some very tough times, but I think the worst is over. In 6-12 months I may even make a significant profit.

I am not bragging just in case Stabilo wants to add his sarcastic comments.

I rarely post nowdays as posters like Stabilo basically piss me off.

I am playing with my money, and margin loan or not I will suffer the losses. By staying in I have reduced my losses to a manageable level. My new Margin Lender St George apart from dropping the LVR to 50% for GMG, 60% for GPT and 30% for IIF have been very supportive.

I am not a genius but based on my losees on BNB the drop in the REITS etc which I was unable to predict I took action to hang in and became positive, borrowed from family and friends to repay the Margin Calls and with the gains I made on GPT etc am slowly starting to pay back some of the loans.

At one stage I was down over $3.0M (GMG was 13.0 cents GPT about 19.0 cents and IIF 6.50 cents. I am now down around $900K . actually last week before the recent drop I was only down $280K.

I am grateful that things have improved and believe that Real Estate and the Economy will slowly recover.

Thanks Wachito for asking about me. It is a pleasure to respond to a decent poster like you.