Got in soon after at 6.8, but it hasn't been that simple since (lightened off then topped up at various points). What a ride!!! It's been the most amazing drama. Is it too good to be true, or is it too good AND true? We've heard some great debates, research, data, facts, and speculation.
We've had tension and moments when resolve and belief was questioned such as -
- Question marks over legitimacy of the whole company, Why would seeds sell at such a low price? Is it a scam?
- The Motley Fools string of negative press. Where is the interest on the money? Why are they building a big office? How can they have such high margins (as if a reason not to invest!)?
- Resignation of CFO (at this point I was very nervous!).
- Why would post IPO holder Shanshan sell her shares at a loss.
We've had the highlights such as -
- Quarterly result at end of July when we ran to 15c.
- Unearthing that some of the escrows had simply transferred to Citi.
- Establishing that CVC recently bought a sizeable chunk.
- Seeing massive sellers appear and disappear in recent times, holding the price back.
- Some wonderful considered posts with factual references, addressing the question marks that hung over it.
And now it seems the demons are put to rest and the lid will soon be lifted to allow the price to rise.
The profit is one thing. But the learning experience far more valuable! For me...
1. The market is tough. There are big boys out there who can skin you alive if you are not careful.
2. Do your own research. This is not to find something that no one else has. It is so you develop a belief that can withstand the turbulence of short term traders, rampers and down rampers.
3. Weight your exposure according to the perceived risk and strength of belief. It's not all or nothing. It is about weighting (and waiting), and having some skin in the game.
4. Understand the power of suggestion. When you read positive news you feel good - negative news illicits fear and tests your resolve. The emotive response can be used as propaganda by some, to inform your investment decisions. Don't let it. Don't succumb to an emotional response. Make a conscious clinical decision and back yourself.
Its been fascinating, intriguing and wild at times, but a great learning experience with still a few more chapters in the story to come. I am grateful for this forum and appreciated all contributions, even the controversial lively ones (who could forget howtowin!). Thank you.
SBB Price at posting:
11.0¢ Sentiment: None Disclosure: Held
