carramba Although I have a large position I am by no means a guru. My philosophy has been that I am too young to invest in companies that offer me low returns. I'd rather risk heavy and reap huge. I've made 2 world class investments since 2009...I bought BXI at .50 for a 5 bagger and then with those profits bought a million PPI @ .30 and sold for more than a 4 bagger averaged. Being relatively unexperienced I lost some along the way venturing into some high risk stocks and selling when I was down 10-20 %. My biggest loss however has come from the so called "lower risk" venture companies. Previous quality stocks like and Silvercorp and Bear Creek Mining have all beaten the c rap out me at different times for different amounts. That said....I don't see the logic in the stock market. My philosophy has been to take large positions in stocks that I think have the right type of story that could propel them into 3-10 baggers in a 24 month period. I try and take MY money off the table after 2.5x profit and run with the rest....this bear has been cruel though. No excuses, everything is down. That is the risk I take...and I'm okay with it. I'm pretty low maintainance so I don't have a high overhead in terms of living. I fully expect that once this mess turns around we'll make out like bandits. I never underestimate the greed of the market. So being well positioned with very large positions can be a fantastic place to be when markets are strong but unusually cruel when markets are down. Last week I lost more money in one day than most people earn in a year and it happenned multiple days in a row. Not fun...but I am responsible for the wins AND the losses.
My suggestion is to take time to fully UNDERSTAND the risk/reward equation. If you go in knowing the best and worst case scenarios you can prepare yourself for all outcomes. I have a worst case scenario of .06 cents for this stock...I don't think it will get there after the complete breakdown we've seen in the last month I think we are safe from those levels. My upside is over $1.50 based on the potential for a real "strike" on our land near GTA. If we hit something big which is quite conceivable we will see RAPID appreciation of this little terror. We'll blow through .30 like water.
I wish you all well and thanks for keeping this board civil and interesting to read.
Peace,
Atheena