Upcoming Quarterly Expectations, page-47

MB a question; Did you ever class EDE as a penny dreadful? I did have it in that class. To me the penny dreadfuls of this world offer the best chance of finding the proverbial 10 baggers. Of course most will finally collapse but some have a great chance of meeting a goal that you could liken to climbing MT Everest.
Take TAS for example. It was chasing rainbows and without EDE it was destined for oblivion as I saw it. Edencrete is its saviour. Another stock that was heading to the bottom is LYC. Management changed and the situation appears to be reversed. There are plenty of research and development companies that are battling to survive (I'm actually a director of one)' If the project they are working on is successful then they will also be successful. There are others that are mineral prospectors. If they find what they are looking for then they will prosper, if not they will go out the back door. Industries go in and out of fashion. In the 50s whaling shares prospered, Onassis killed the goose that laid the golden egg by indiscriminate harvesting of whales and succeeded in killing the industry. I lost all my savings there but ended up getting my first taste of share trading as they were going out backwards. Each year for the last two years of whaling the shares used to get a boost as the season opened in AUS. I used to buy in May and sell when the season opening hit the press. My last trade was to buy at a half penny and sell the following week at a penny. They were a real penny dreadful. I only made any money out of them when they became a penny dreadful.

To sum up; I once classed EDE and TAS as penny dreadfuls. That is why I stayed invested and continued to invest and trade the relative values. I still do. I continue to look through the list of penny dreadfuls, research the possibilities and "take a punt". 500 to 1. is not the odds that I fancy but if I see a stock priced at 500 to 1 and I decide it is 10 to 1 in reality then I get interested. There are very few blue chips that are 10 baggers in a short term.