Well to some extent you are right I did buy at a time AGO was very bullish and all the Guru's in banking world and finance were calling $6 plus. Then so many things happened.
Also I did buy AGO in early $1's, but somehow ended up owing me around 357. Obviously I have traded down since then but it doesnt affect my overall losses which are big. I should have sold in the $4's had the opportunity can only blame myself, but that doesnt alter my views on AGO I believe if we get the rail sorted then next year it could be up over the $3's once more.
We have taken over a lot of companies at high price to ourselves so it turned out- nobody expected this downturn in the IO price but if you think about when it started was when the mining tax debacle was first mentioned and we really havent had a chance to pull back up since because that has been an ongoing saga, giving the Chinese plenty of opportunity to take advantage of the situation when overseas companies started pulling out of Australia because of high costs.
Its all relative...bring on the election...ditch all the taxes....let us pay another 2.5% in GST instead to get the economy back on its feet.
But I dont want to discuss my stupid errors I am getting on with trying to correct them I think if we get a reail deal by Xmas the SP will be a different story.
AGO Price at posting:
83.5¢ Sentiment: Buy Disclosure: Held
