Thanks. Do you have experience with a similar class action? If...

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WarrenPuppet_

15 Posts.

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21/02/18

14:40

Post #: 31225126
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Originally posted by Cosmoterios ↑

Warren,

Its not an easy thing to accept at this point in time - the pain is still fresh.

From one of the negative posters (in contrast to being a shorter), I can say we have all been there. Most of us have been through these situations and have seen what happens thereafter. During the last month, we provided lots of warning bells in contrast to the up-rampers.

For myself, I lost over $400k on LYC on one of these situations - following it from $2.10 plus to 16 cents - when I finally came to my senses.

Of course, LYC have recovered somewhat since (post consolidation $2 or 20 cents pre-consolidation).

In these sort of situations (where the company is in a crisis), its the up-rampers that you need to wary of - that's has been my personal experience.

Any way, the following is NOT financial advice - just what I did to recover my losses.

I took a bit of time off on investing in the speculative end. Went through everything I did and where I was foolish enough to listen to up-rampers. Wrote down a list of where I made my mistakes.

Spent a year, reading books and stock chat forums like HC - especially where the SP of a particular stock had spiked up or had collapsed - watch and read the comments and compared it to my mistakes on LYC.

At the same time, I started rebuilding my balance sheet and did extensive research on stocks and industries I was interested in - such that, by the time I was ready to invest in the speculative market again, I knew all the pluses and minuses of those companies and its potentials.

It took me seven years to recoup what I lost.

Fortunately these days, I am very much in the "Green".

AIMHO

As Always, DYOR.

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Thanks.

Do you have experience with a similar class action? If anyone could share their experience in class action. I know every case is different and there are a lot of variants but would like to gauge how long a class action similar to this would take and how much share holders could end up recovering? Thanks

GSW Price at posting: 55.5¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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