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Steve that was pretty gutsy stuff to fess up to on here and I...

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03/12/14

23:03

Post #: 14404183
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Originally posted by stevebiscuit ↑

Thanks for putting together this list Jako.

As luck would have it I was forced into selling my entire portfolio 2 weeks before everything went GFC due to separating with my Ex . . . initially I thought it was a serious omen . . . . . Anyway, after a few years of stuffing around with lawyers and the division of assets everything was resolved and I re-entered the market late 2010 with the same carefree attitude that I had had during the early to 2000's. Back then it was as if you could throw money at virtually anything and it give you a pretty decent return even if you were picking bad stocks . . . but the good ones went ballistic! . . . . Anyway . . . . my re-entry also coincided with the discovery of HotCopper, I thought it was a gold mine. Then when the slump came in 2011 I stumbled across Martis, he who had foretold the great GFC crash could now see in the charts the next great depression bigger than anything we have ever seen . . . and he scared the willies out of me.

I had been buying certain stocks on the way down thinking that it was a wise strategy, soon the market would turn around and I was going to make some decent money . . .very conservative approach, things like ARG in the low $5's etc they were well below their NTA etc . . . how could this be bad . . . . . In the end we came to October and the combination of history and Martis' constant predictions spooked me and I dumped pretty much everything. I racked up a loss of about 30% of my cash at the time . . . . but the great doomsday prediction never came to fruition.

Over the next 6 months or so I started to clear my thoughts and focus more on research and think a lot more about what I bought . . . all along Martis was there predicting the great wipeout was just around the corner and we should all be ever so careful . . . but the market went up and up. I sorted out the wheat from the chaff when it came to posters and chartists, those that were always level headed in their approach and didn't go for hyperbolic predictions. I made the money I lost back and made some more on top of that . . . . all the time there was always Martis, like a metronome in the background saying that it was all about to end.

The point of this long winded rant is this . . . If I had chosen to listen to Martis I would never have re-entered the market and ended up well ahead today. I guess in some way I should thank him. . . I bought back the ARG I sold in the end for $5, they closed today at $7.86, up over 50% plus 3 years of dividends.

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Steve that was pretty gutsy stuff to fess up to on here and I congratulate you on your honesty . You're a good guy .

This has always been my issue . There are hundreds ,maybe thousands of people out there who react similarly to things they read on sites like this ,panic, and are too embarrassed to say anything.

Hopefully Martis ,whoever he is , might in his quieter moments reflect a little more before he comes in with all guns blazing.

Steve ,I've always thought you were a half brother to Sea Biscuit ,they greatest neddy ever to go around

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