Ann: Service of Application to Commence Proceedings, page-137

@WarrenPuppet_

Sorry to hear about your loss, I am sure there are many out there in the same boat and other who have been through something similar (myself included).

I'd share my story with you if it makes you feel any better, but thinking back to when I was in your shoes... the below would probably be a lot more helpful.

What I am about to say is not advice to you or anybody else, rather it is how I would handle being in the same situation again with the benefit of hindsight. Hopefully it does in some way help you or somebody else caught up in this mess.

Firstly I would step away from the sharemarket for a while (how long depends on each individual), and ignore what happens to GSW after today. I would try my best to not look at the price.. because if it goes up, I'd kick myself... or if it goes down, I'd feel good about what really is a bad situation (so I really shouldn't feel good). Point is, you have to move forward... you can't move forward if you continue to focus too much on the past.

The key question I would ask myself is what do I do next... do I...

1. Decide I have learnt a lesson and the sharemarket is not for me, and I am happy to walk away from the sharemarket and go about living a normal life.

2. Decide I have learnt a lesson and would want to give it another shot and try to learn from my mistake, understanding that I could well continue losing money - but have the chance to make my losses back and more.

If I chose 1 above, I would probably come to this conclusion knowing that money can be earned again... and hopefully you have many years ahead of you to do so through other means. Also likely come to the realisation that life could be much worse, in that I mean good health is something you can't always get back if you lose it. I'd come to accept my loss and be content with life and hopefully family and friends will be there to remind me how good it can be.

If I chose 2, I'd firstly have to be very realistic. By that I mean I will have to accept that this is a long path and it is more likely than not going to take me years to get my money back (if I am lucky), or I will continue to lose money. At this point, I'd set myself some goals and guidelines... how much more am I willing to lose? Give yourself a realistic timeframe to achieve your goal or recouping your money. This timeframe would act as my guide to what type of companies I will invest in. I would not go for 'over-night' successes or anything that is 'too-good-to-be-true'... rather I'd do research and find a company that has strong fundamentals and is moving in the right direction with strong and trustworthy management.

There are so many companies and industries on the ASX, there are hidden gems if I look hard enough. I wouldn't buy a company that has already 'made-it'... as their returns will be limited. I wouldn't go for a 'spec' company either... too risky. A company that has good prospects (something disruptive/unique), in the right industry (growing) but still has a few hurdles to jump (trials?approval?) before they 'make-it' is probably what I invest in.. and I would simply leave it for a few years and let it do its thing. Ideally I would invest in more than one company (diversification is CRITICAL)... but again it depends how much money I have to invest.

Hopefully this is something that can help you move forward and hope to see you back in the green in the not-too-distant-future.

All the best mate