Patience, page-137

HC is a wild beast sometimes. Posts delighting at someone's misfortune are really very childish. However, grasping at misguided hope can be very costly.

If someone approached you to buy shares in Co XYZ and told you:

1) The CEO and CFO have just resigned,
2) The last 3 quarters have resulted in $30m cash outflows,
3) The last quarterly rept gave no assurances of current positive cash flows being earned

would you jump at those shares?

In 30+ years of investing my best decisions have been to exit stocks that I have previously bought using poor judgement. Have I ever regretted such a sell? Not once. I hope, particularly for those who claim to own 5m shares, that this will be a happy turnaround story, however, I cannot see that.

There are also opportunity costs holding stocks. I have recovered a reasonable % of my TRY losses on other stocks and TRY has since fallen another 10%.