our hero....the cat in the hat, page-20

Hi All,

Back on the 28th of September I wrote the following:

“Just as a matter of courtesy to my fellow posters I sold out of my 500K holding of this stock in the $0.49 range earlier this week. (Paid $0.50 - $0.55)”

Often one of the most difficult parts of investing in equities is realising that we are all fallible and capable of being wrong. The decision to cut ones losses are never pleasant; however, often at times necessary. A long and protracted legal battle here will only put money in to the lawyer’s pockets and one wonders if at least part of that cash balance could be used to buy some other attractive property. Cash today is well and truly king but only when applied wisely. Maybe there is a little more to some of those old sayings such as don’t put all your eggs in one basket!

The money freed up from my sale went into UML a small but cashed up company that has just used its cash balance for a purchase of a gold property in NSW. Ok I have taken a loss but maybe learnt a lesson from it, and at least as a share-holder in this company I am helping to create some real jobs in Australia instead of feeding a team of international lawyer’s.

I hope for you guys remaining optimistic that someone pulls a rabbit (never mind the cat) out of the hat for you in the very near future.

Cheers and very best regards: Andy