Lots of horror stories, whilst it may not make anyone (including me) feel good about wrong decisions- I did not predict the jump from 7.5c to 18c!
It might be worth considering that with 2,175 billion BBI shares at a price of around $1.80 the company had a notional market cap or perceived value or notional value- or even actual money spent by someone (don't correct the figures it is the philosophy that counts) of around 5 billion dollars.
The Market cap today is around 200 million dollars.
Banks, Infrastructure investors, bond holders have lost around 4.8 billion dollars, thats a lot of dissatisfaction.
Many of these losers are still involved and wish to maximise their return, quantify their loss, have a win, annoy the vultures (us).
They have a lot of financial clout- few on here could organise 1 billion. So do NOT be surprised when the snake with the broken back tries to bite you, that's normal behaviour.
The path to making a big buck (for us) is a mere bagatelle for the big losers and they still control the game- be wary, expect nothing for free and as Buffet says when everyone is greedy be fearful, last week I was extremely fearful and missed out on the sharp rise, shoud have waited for the greedy to be more obvious. Speculating is not quite an exact science.
BBI Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
