the calm before the storm, page-22

Hi Argo and OOO

I too sold out a few months back at massive lost. I was stressed out with the massive drop over the last 3 years

Fortunately I made massive gains in tech stocks. The difference is that these stocks dropped massive before I bought and are not affected. Unfortunately one old APT at 21 dollars but still made.

I was a one stock man in FAR and what a mistake. With tech stocks I suddenly transformed into a day trading crazy dog on steroids (held for days if required). Buying when ASX was down 300bpoints selling on highs. Doing the things those damn traders did like doggie.

Lessons learnt:
Don't be greedy holding one stud stock like far. I wanted to be a millionaire and held only to end up as a beggar ( sold most at 3 to 5c, sorely dumped out of heart break at 1.6c)
The down hill chart shows it was on a down trend for 10 years yet I ignored it.
Management never bought much stock and promised much but delivered it.
Blame it on bad luck oilprice slump but did not look at company underperformance.
Lack of any sense of risk management for company. No plan B or C.
I'm convinced that holding oil drilling shares are damn risky. Rarely do long term holds reward in mining
though I don't know when tech stocks will crash I think with m my gains I'll be ok. But at the moment tech stocks businesses are gaining increased business during covid and some are making money.

I could bear to hold anymore of FAR though.

But for holders I believe with oil price rising there is still a change to double and triple the share price on a sale of Senegal. The borrowing terms from macquarie were crazily high anyway like 9% above labour. May get better borrowing Goodluck to holders