RE:Bought more at this price yesterday, Q1 rep friday morningHappy New Year to BlueMan-Horse and all readers!
BlueMan, do you remember Nortel?...here is a true story:
“my friend worked for Nortel for 5 years at the end of his professional career contributing his fat salary to RRSP and other investment accounts and recklessly putting everything in the Nortel stock – after all it was rising so nicely.
In mid 2000, he retired, bought a luxury motorhome and set for a North America great tour. He monitored the Nortel story development, but could not believe that it would end badly, had a total confidence in the company.
Once the shares dropped from $124 to $50, he added more Nortel stock to and once the shares dropped to around $25, he invested proceeds from sale of his home to buy more Nortel - the stock was so cheap, he said.
In 2005 he was forced to sell his motorhome and get back to work again, bought a depilated home in Barrie and used Volkswagen. He retired again in 2015, a nearly broken man”
Please forgive me drawing the analogy, but your theory remind me of his; add more because it is cheap. Well, please notice that there is a good reason that the stock is cheap!