answers required now, page-24

Navy - it is always a distressing thing to hear that this sort of sp drop hurts individuals like you and many others.

I know the pill is hard to swallow as I've had to do it myself. I lost around 60k. I also had some hard questions to answer from the family. So sure was I that NMS was my successful lottery ticket. Alas it was not to be.

There were some nagging realities when I looked around after realising that 60k had simply vanished. That's a hard thing to do - 60k just gone - how does that happen? I spent many a long hour trying to understand that, frequently at 2.00am.

Nonetheless the sun rises and one has to face up to the cold hard light of that day.

1. Who typed in the order form on etrade? Me
2. Who decided how much cash to outlay? Me
3. Who decided to tell his mates to 'invest'? Me
4. Who participated in and started to believe the good news and prognostications of posters here? Me
5. Who ignored the cap raisings and debt accumulation? Me
6. Who should not whinge about their predicament? Me

And finally the one thought or realisation that I couldn't escape.

I called it investing (yep a sophisticated investor was I NOT). It wasn't investing, it was speculating. Investing is, in my opinion, characterised by the reasonable expectation of a return - e.g. a dividend. To buy shares in company that doesn't pay dividends and to rely solely on capital appreciation is speculating.

Now that I've got the language right and have accepted responsibility for my actions. I'm going to invest again but only in blue chip companies. I will reserve 3 to 5% cash for speculation - and only after much due dilligence.

Back on the horse Navy - you just have to ride with the lessons learned after your last fall.

Best of luck to you!