Stupidly it wasn't 25k worth of profit from other shares or a small part of my portfolio. It was 100% of my shares portfolio by the end of it! 100% of my savings lol.
Like i said, stupidly.
Oh well. Won't be going near the share market ever again. Or if i do it will be well away from penny stocks. If you have a look at all the hyped about stocks on hot copper in the years I've been a member; BCC, SSN, CTP, VIL, MEO, GGP - All of them are doing pretty abysmal. So that's a comforting thought. Of course i have picked the worst performing stock on the entire ASX, but I'm lucky like that. Even Believe101 has stopped being optimistic on this dog of a stock :)
I wish they would get out of the resource sector altogether and just buy a business somewhere. Like seriously, if they bought any small/medium sized business for about 1 mil its likely to perform much better. A nice little cafe in Melbourne somewhere. At least then i could see where my money went. They have no idea about the O&G industry that much has been proven time and time again.
So yeah now i have 1:50th of the assets that I put into this mongrel.
The stock price will have to hit about $1 for me to get my money back. Fat chance of that EVER happening.
I'm now saving up to invest in a small company or start my own. Why pour money into other peoples ideas? You have no control of the incompetence behind them. And the incompetence of VIL beggars belief.
Why haven't i sold yet? I heard that you can only keep the tax write off for 5 years so i have to find something to write it off against first. Then i'll be getting rid of this like the nasty genital rash its turned out to be. I'm guessing 95% of punters are in the same boat as me.
VIL Price at posting:
2.3¢ Sentiment: Sell Disclosure: Held
