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Daze interesting read i was lucky enough to have made a good...

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dleb

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21/10/17

20:55

Post #: 28089930
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Originally posted by Dazedandconfused ↑

Dunce trading moments? ... oh dear... perhaps I should start at the beginning...

Back in 2004 ... I was a regular casino player [absolutely convinced I had devised a 'system'][still working on that one] and I casually thought to myself ..."better put some money into something as a parachute"... so... bought $20k of HTA @ 27.5 [briefly went to 31.5 then back down to 27... so... I bought another $20K @ 27]... not long after, the iPhone was introduced and I rang the company to ask if they would be offering it? ..."Oh no" was the reply "Apple want too much for it"... I was flummoxed... I had chosen HTA because I was certain mobile phones were the future and would be the platform for all that was to come. I believed the smaller Oz telco would be the nimble player...when I heard this, in hindsight, I should have sold as soon as I got off the phone... but no, I stuck with a dunce outfit. HTA was 93% owned by the richest man of Asia.. that gave me some confidence... on paper HTA was losing $1B year.... what I now understand is never, never buy into a Co which is so totally controlled by one person or organization ... because... they are never ever going to look after the retail investor. If they are making any money they will find some way to get it out of the country and into their pocket, bypassing people like me. [I never delved into the corporate structure of HTA but I reckon there's an interesting story there somewhere]

Anybody remember CFU... had nice little idea about distributed energy generation... yep I bought them and road them down. They were dunces too... they had $100M tied up in stocks as their treasury hoard in 2007... the GFC wiped that out which financially crippled them and it's the principal cause of their destruction as a company.

moving on down the dunce trail ...LNC and CNX .... Queensland politics anyone? UCG Vs CSG The Queensland Govt had the choice to support a new way to utilize coal which could be a revolution [underground coal gasification] all underpinned by years of CSIRO research ...or... open the country up to overseas oil interests to drill a hole in just about everyone's backyard [coal seam gas] put at risk the entire agricultural aquifer system, crisscross arable farmland with roads, pipes and ponds of toxic water. ..Jeez... and...what's going on with the Adani saga? .. nobody, really, could seriously be as stupid as the Queensland Govt appear to be... they have had high profile corruption in the highest places in the past, I am wondering if, and personally suspect, there's an untold story here too.

If you don't like those trades... I have others.

On balance though ... I am grateful for being a dunce ... I understand so much more about how our society actually works[not] now... because I am a serial blunderer.

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Daze interesting read i was lucky enough to have made a good trade out of CNX , back then many peoples lost a lot of money during GFC including me , I guess it was a painful experience but never the less something positive to take on board ...
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