I've been away from the Board for a while. I've just finished reading the "Tell Me Why" thread and I have to say that it is unfortunate that things continue to be so profoundly negative here.
The worst part is the attacking and counter attacking of posters on one another.
This shareholder thing, the bit about money invested in the common stock of a junior mine in VZ, it was full of risk from the very start. Some very astute and well known investors around the world, but many from Canada where mining investment is well known, mis-assessed the extent and iminence of the geopolitical risk involved in VZ. Many managed to sell and get out before catastrophic loss. That's one of the advantages of an investment that is liquid. Fung didn't have that same freedom to move. He was faced with a series of complex and challenging decisions.
While Fung was the Rain Maker in his days at Gordon Capital and while he excelled in Toronto waterfront real estate management, he had conspicuous deficits when confronted with the VZ challenge. Not many executives in the world would have had the skill set to save or improve what was the eventual trajectory of Crystallex in VZ. It was just wicked and remains totally pathologic to investment.
I will tell you who I blame for my losses...ME. I had a hundred opportunities to pull the trigger since I started in 2005 to limit my loss, no, even make wonderful gains. But I failed and learned some things as a result.
These losses we all have suffered have made many bitter. Try to move on and learn from the loss. But don't attack each other over and over. We will not alter what has already happened. We will not alter what is about to happen. If one is to remain balanced and happy, one needs to adopt a sense of detachment. In the end, we are just sharing opinions. No need to get angry, attack and name call.
But keep on opining and analyzing. Next time we should all know better.
thelongrunner
