Ann: Executive Management Changes, page-176

Hi Szopen, as I wrote previously, you are one of the best posters on this thread and you have added real value over your time here. If it is any consolation, IMO many good investors have experienced significant capital losses in their investing career, especially in the early stages. I know in my case when I started out I totally misjudged and misunderstood risk - I lost practically all my investment numerous times investing in unproven resource developers, biotechnology stocks etc. I recall I bought heaps of Gunns when their price dropped significantly (they were a large woodchip exporter with a proud 100 year history and had previously been a blue chip stock) - I assumed that it would only be a matter of time before the share price rebounded and I'd make a big profit. Needless to say they went into receivership and I lost all of my investment, which was a significant amount for me at the time. Anyway, these losses taught me about risk and made me a better investor. IMO the biggest mistake that new retail investors make is to totally underestimate investment risk and IMO the only way to fully learn to appreciate and respect this risk is to experience painful capital loss.