Sanity Relief, page-23

I've had many kicks in the balls over the years, too.
But this one has to be in the Top 10, given it represents a big chunk of my portfolio and the results were so unexpected. It seemed about a sure-a-bet as you get in the O&G space.
On most occasions in these situations, however, when the company had the balance sheet to survive, it's turned around. It just sucks because it feels like a waste of time and money waiting around for it to recover (i.e. opportunity costs).
At times like this, I always think of Housel's book, The Psychology of Money, where he talks about how the most famous fund managers weren't necessarily the best stock pickers, rather they picked a few great stocks early (e.g. Facebook, Uber, and Amazon) and held long-term (giving them above average returns). Most importantly, many of these stocks were down ~80% at one time or another. It's a good reminder that if you believe in the management and underlying assets, sometimes the best thing to do is nothing.
Having said that, I wish I had done nothing and not topped up at 29 cents.
But that's the fun of the market.