Retep and GH, I personally would love nothing more than for you and GH to somehow recover money from this stock, if you somehow made money that would be fantastic, and I would be the first to congratulate you!! I also respect highly GH's contributions to the forum when things were going better.
Having looked at information about Linc's financials, the assets, the of unsustainable debt, that they appear to be running out of money, the directors leaving, the bullshit announcements that came to nothing, it was however an easy decision for me to sell when I did.
Having sold, I am no longer emotionally attached to the stock, and can laugh (in a dark humour kind of way) at the obviously mismanaged aspects of the company. This humour is tinged by the pain that I (and others) have lost significant amounts of money investing in Linc.
I met PB at the Sydney investor forum when they were doing things like wheeling out Peter Costello to add credibility to the SGX move (I am not even really sure what his role was there - just an easy couple of consulting dollars I guess?).
I found PB very engaging, passionate, entrepreneurial, and I bought into the SGX move and the future of Linc. PB also said a number of things which he said were going to happen, which didn't...
For me investing in PB and Linc was a lesson that I need to be a better judge of character, and Management capability amongst other things.
Recent ex shareholders have been sharing our stories of having sold out of Linc since 50c or more, you and GH have decided to stay as shareholders since IMO you don't want to acknowledge the mountain of evidence that is in front of you.
It's painful for one to admit one is wrong, but investing should be about clear rational decisions, why this stock will give me a return rather than another, or vs risk free investment like govvie bonds?
If you and GH think that you will somehow be able to fund and run a class action for some reason? or get $ out of QLD gov? or sell the Ark or Umiat for billions? then great, but I don't see any evidence for that.
Most of the ex holders wish you guys nothing but good luck. Unfortunately, when an investment comes down to luck it's no longer a valid investment IMO.
If you were honest with your self, what do you think the SP will be end of September 2015? My sense based on current trend, company and sector sentiment is that it could easily be around 7c, unless something else happens to the company.
All of this is just IMO. DYOR of course
LNC Price at posting:
99.5¢ Sentiment: Sell Disclosure: Not Held
