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21/09/21
21:44
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Originally posted by swaggytrader:
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Just a foot note, based on the last crash in 2007. One stock I held [rated in the top 3 property stocks on the ASX] fell from $2.60 to $1.00. No problem I said, I will hold until it recovers, the stock was taken over by a private company for $1 per share which crystallised the loss of about $260k. Another more speculative stock I held halved in price, I held for 7 years, a few years later they had a 50% capital raising [so if you don't buy in, your stock loses 50% of it's value, on top of what you've already lost]. After 7 years I sold and and lost around $220k, the stock had the assets, but the majority shareholder was able to squeeze out holders using capital raising. Needless to say I'm now very careful about what stock I buy, and how I position my capital. And this all happened without excessive money printing or Covid.
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Respect! Most talk about their wins, not many about their losses. Out of curiosity - from your experience - how would you prepare for such crash? What would you hold and what would you avoid?