Hey Moneytree, I think for some investors it's very very difficult (your mate, me included) to hold onto a share that shows a large paper profit – The reason why it's difficult, is if you've been investing for a while, especially at the spec end of the market you'd have seen profits rise and vanish just as quickly. Lets not get too ahead of ourselves here, there are a whole raft of downside risks to BOW that could send it straight back to 50c, unlikely, but possible.
I think it's always a good idea to leave something on the table for the next person. So yeah your mate could have had $400k, but he has the rock solid certainty of $145k, to do with what he wants, buy a car have a holiday pay down the mortgage whatever. I find large paper profits almost as anxiety inducing as looking at large paper losses. You may feel its best to buy back, but at least you know its free money you've brought back in with.
It all depends on what you need the money for, and when you need it.
Good luck, today is going to be interesting.
Mr D holds.
BOW Price at posting:
$1.24 Sentiment: LT Buy Disclosure: Held
