RE:RE:RE:RE:Sympathy for the DevilNo, that's right Iam,
Up to 2005, EV;'s SP remained over $3.00 (in post-consolidation dollars).
Lanny's (and all other long-term sufferes who bought between 1993 and 2005 are in deep crimson red.
So how do you average down ?
Let's use the real-life example of Lanny, our in-house investment genius:.
Let's say Lanny bought X shares between 1995 and 2005 at the low price of $3.00/share (In reality, that SP would be much higher as $3.00 was the lowest the SP got in that timeframe - but let's keep it simple),.
How many shares would Lanny had to buy at the lowest SP EV ever got after 2005 (i.e. 3 cents).
Easy to do the math. The asnwer is Lanny would have had to buy 25 times as many shares that he had accumulated betwen 1995 and 2005 at the lowest of the lows (i.e. 3 cents) so that his averaging down resulted in an averged-down SP of 15 cents (His present predicament - What he reavealed on this board anyway).
So, as of today, Lanny is still in the hole by over 40% with a genius strategy of averagin down!?!
After 28 years of inveting in EV ?!?!
I'll say it again, ANYONE WHO INVESTED HERE BEFORE THE SAHRE CONSOLIDATION IS IN DEEP, DEEP RED (That includes me unfortunately :-(.
As a correllary, the longer you have been here, the DEEPER IN THE HOLE YOU ARE.
Anyone that says the contrary is a liar.
But Hey! hopefully the newcommers (like you) will make some $ off of this