RE:RE:RE:RE:How the stock market works (oldie, but a goddie)Joe454 wrote: A friend ended up with 4000 shares of Nortel when BCE spun it off , I told him to sell it when it ran up , I think it was about 130.00 not shure , he said I'll sell it when it gets to 200.00 , well we all know what happen then , he finally sold it at 11.00 , you're right , Valeant is another Nortel...........................
There is still good news even in a bad story. At least your friend sold, albeit too late, and still salvaged a few bucks. I had a couple of friends who worked there and one buddy sold at about $60 and the other guy gave up when it went under a $1. Both worked there for over a decade, but you tell me which one was happy/ok and which one was miserable. VRX is around $16 now, so people could get a little before it goes to nil.
Just don't understand how a bagholder can just sit there and watch their money disappear. I worked very hard for my money to put into trades. So capital preservation was more important than anything because I never wanted to go back to working hard again. Trading is the easiest job in the world and can do it from anywhere in the world. Sad part is the majority of people have a bagholders mentality and should stay out of the market.