your two biggest loses ,why and lessons learnt, page-47

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    One of the main drama's with oz (obviously was the share price, but I could have ridden it out) it was the 3 month suspension and margin lenders.
    Whilst in suspension , they firstly dropped Margin % by half, normally you could liquidate stocks to add in money ,( i thought i was conservativly geared at 30%)but i had to sell off other stocks at the worst time in the market to cover the shortfall,and with only 24 hrs to do it ) I escaped the first one, then they took off all % lending, meaning i had to cough up all the money, and couldnt sell any to help. Thats when it hurt , my remaining stocks ahd to be sold , with no buyers for vast volumes , (i helped many shares crash in price I am sure , although not intentially) Had to mortgage the house , and borrow $140k on credit cards , to sort it out.
    Not a good time to remember. But any self made person, will always reinvent themselves, and not sit in a corner and sulk, but have another go.
    I have and i am working my way back, I still have lots of debts, but way better off than i was back then.
    I look at oz now, i still blame the government for its demise and forcing them to sell off to china.
    Those on this forum years ago knew I even had discussions with the Future fund to advance OZ the $1 bill needed.
    In hidsight had the govt done that, and oz still had all the mines it would be worth closer to $10now probably.
    Onwards with the future, and loking forward to multibaggers over the next year or two on...pno,ego,wds,crk,cok,
 
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