Averaging down. I sent an e-mail to Mr. Dykes a few weeks ago with some questions. I received a very prompt reply which made me quite happy. Answered all of my questions and for the most part I was pretty satisfied. I didn’t agree with everything, but we can leave it at that.
One thing that really got me though, was when I disclosed my average cost, he mocked me about how high it was. I agree, it is pretty high. However, so far I have seen zero actions from MGMT that buoys my confidence to buy more of this stock. Not one single thing. This is the kicker. If I would’ve bought more on the day that our CEO tried to shame me for not averaging down, I’d be down an additional 35% on that trade as well.
GLTA