Liscomorris was just one of many people who, I guess, saw GNH showing up with a big red negative number in his statement, and all of a sudden decided to come to me with his problem as if I'm his best friend. I gave him some well-meaning advice, which I guess he'll ignore now that GNH has had a good day and rebounded to the skittish heights of the low .40s.
As for the stink bid... actually, I cancelled it a day or so later, because I thought committing $40K in capital to a play like this was a waste of my time and money when there's stocks with good fundamental value, where I can make money day in and day out.
So, let's begin posting everyone's personal emails so you can see what an evil monster I am:
liscomorris on December 13, 2010 14:14 said:
--------------------------------------------------
do i dump or hold!?!!!!?!! how much can I make back in a tax loss situation? I've had 2 horrible investments this year, and Im a rookie...GNH and CMM
I replied:
Date: Dec 13, 10 03:21PM
Subject: Re: gnh
Dude, if you're uncomfortable you should always get out. If you feel you have no reason to stay in, get out. These are basic rules of investing.
Sit down and review everything you know about GNH, and afterwards do what feels best.
If you're losing loney on self-directed investments then you'd be wise to doubt your own abilities and think about looking into buying a mutual fund.
Sounds like you're buying high and selling low if you've lost money on GNH and CMM. I made money on both. If you're buying high and selling low, you're being a follower and not a leader. Not trying to be mean to you, but followers get killed and leaders get the glory.
Read http://www.traderfeed.blogspot.com/ and learn about trading psychology.
Disclosure: I've got a stink bid in for 200,000 GNH at 20 cents.
