I averaged down for a few weeks earlier this year, in fact I doubled my holding over couple of months for the cost of approx 5% of what I paid for my original holding of 30M shares. After seeing the delays in the CR and other issues in recent weeks I started to get a tad worried that I might not have anything to show from my holdings in ANW for a long time.
Furthermore, I found a couple of stocks that after researching for a long time (a hell of a lot longer than I did with ANW) I felt my money would be in safer hands (or a stock elsewhere to be more accurate) so I decided to change camps with what I had left, even though one of my earlier posts this year I gave ANW a 50/50 chance to turn things around.
Recently I just felt the odds were better to get an improvement on my ANW retrievable monies elsewhere. (Good news for me is this appears to be the case with the other companies I have changed over appear to be on the path to taking a nice run in the right direction soon, the difference in management is significant. No debt, groups throwing many millions at said companies for equity, not convertible notes, different ball game all together ).
So reluctantly I dropped all my holding in ANW a couple of weeks ago, funny Hamann followed me a week later and of course an ANW announcement comes out that confirms I probably made the right decision, ANW's poor execution of the recent CR and basically everything else is simply a shocker. I very much hated to let ANW go, but many lessons learnt and as many people have said over the last year, just go hard to make it up the losses elsewhere if possible. (easier said then done until I hot that cross road where I found a couple of companies that could potentially do that for me)
Fortunately I collected a massive capital loss I can use, (fortunatly, nice word isn't it, its like, hey I crystallised my losses, makes it sound so much better, but its now really) it's a bit like Monopoly $10 second prize in the beauty contest at best, I would have preferred the cash back with a return, but thats life.
Never give up and never give in as they say. (that always makes sense, accept when you have lost the majority of the share trading portfolio, awesome) I think I'll start a new expression, but I'm too tied now to think of something worthy. Oh, looks like Biden will be President as per the notification on screen, ANW and the US Presidential elections both a circus !!
To others;
Goods luck to all the guys who have been burnt and if you still hold, let's hope it is just like the Big Dipper and sure things are scraping the bottom now, but maybe in time the SP recovers and is hitting the heights in the future for you,
As such, unless I buy in again (which is highly unlikely under the current BOD), this will be my last post. Apologies to all I've offended along the way, particularly after too many red wines or scotches. To the guys who accuracy called out issues with ANW and I was too blind to see (loyalty and falling in love with a stock won't happen again) well done, I should have listened more closely.
To Blister, apologies for having a crack at you sometimes, I hope to see you on the merry go round elsewhere and to BananaMan, you are a spineless coward, plane and simple.
Good luck to all holders, may things turn around and to the now non-holders, I hope the sun shines elsewhere for you .
See you on the flip side lads, our posts might cross again if you are in CWX or TRT sometime in the future.
Signing off all, Matrick.
ANW Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
