RE:RE:RE:RE:RE:Shareholders were sheep, BTE took them to the butcher.RagingBull3 wrote: Boulter, you mention OSB. I see that it use to be $1500 a share, now it's $44. Yes, it's great if you got in at $8. But as company wise for shareholders, $44, I would not call a win, or good performance, given shares were $1500 before.
Boulter wrote: RagingBull3 wrote:
Did any of those companines Dilute like the way BTE did?
You need to compare apples to apples, oranges to oranges.
How about mentioning all the companies that went to the basement on you.... some go back up, some don't.
Certainly OSB diluted during the reorganization.
I have had 6 bankruptcies: White Rose Crafts, Canadian Fracmaster, Nortel, American Eco Corporation, maybe Gandalf, so long ago.
But those bankruptcies were before I had really developed my thinking on what I do now. So not all of them, perhaps not any of them, would have been companies I purchased multiple times on the way down as I do now.
So there you have it: multiple bankruptcies and top decile (likely) performance at 11%PA over the last 16 years when the TSX has done what maybe 6%PA.
Baytex is actually my lifetime worst result in dollars at down ~$100,000 currently. But I have certainly been down that much in the past on other holdings before they recovered. My bancrupcies collectively cost me about $100,000 too, back when I had much less.
Anyhow that is how I see things. Works extremely well for me, and pretty much not transferable to anyone else, but you never know, maybe someone will benefit.
Your data source on OSB is missing 10:1 consolidation, so all time high is about $150. My first buy dunno 200, 500 shares we at about $100. So you are right, people who visited once at $150 are unhappy. I visited many times and am delighted. You are illustrating one of my investing fallacies: compare something, a SP or index 20 years ago to now and find it down, therefore everything is bad here. A static view of investing. I take a dynamic view, what could I have done in the 20 years with a but of wit and intelligence and slaying of fear? I might never see $100 again in my initial buy. Who cares, I've made out like a bandit in the aggregate. I am 4 years in on BTE and somewhere around 16 to 20 buys and this stubborn cuss is still showing a loss. I can't make money in the aggregate yet, but I sure am driving the ACB ever lower and being in at 1/10th the high gives me great scope to get a win if we even get back to 1/5th the high. I agree with all the change in sentiment and dilution, I will never see the high, but I don't need to just like I don't need OSB to ever visit $150 or even $100. If you prefer to keep saying BTE is a crappy company because someone, somewhere, on some day bought it at $50 and therefore lost big, have at it. I prefer to sit on this a while yet and see if in a few years it becomes my first half million dollar win. It may not, but I sure like my chances here.