RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:.20
I totally agree, and this kind of stuff gives me food for thought...
So I don't know about anyone else, but as far as I remember, chickendinner has 1.4 million shares, but he/she is underwater right now with the ACB. But at 20 cents that is $280,000. Just think about this....my other only venture stock has gone up over 100% in a couple of months (literally). So had he put that 280K into that other stock, he/she would have $616,000 right now at today's price. That is not insignificant. Even on a stock that has jumped 20-40% in the past few months (there are many of them) that would have netted enough to probably cover his/her losses with Martello. Patience would be in the same boat with his/her 1.2 million shares.
I don't have nearly that many, but I look at my portfolio and I see all green now except Martello. And these are stocks in various industries and sectors. I don't know how anyone can look at this day after day and not think, had they cut their losses earlier, they could have likely made it back, or make it back in time to plop down money on drops. I thought based on the past 1.5 weeks or so that maybe I can play the 1/2 cent here, 1/2 cent there game and make a few hundred or thousand here and there as the price rises and falls ever be it so slowly. I also have this sinking feeling in the pit of my stomach that I may buy at, say, 21.5 cents, and then drops to the teens again. I honestly did not think we would see 20 cents again, but here we are. That news release about the Microsoft partner has not moved the needle one bit. Meanwhile, that other venture stock of mine went up 19.6% today. While I am happy about that, it is hard to watch, as I could have plowed all this Martello money into it, selling at .28 cents and picking up something else.
My problem is that I tend to be fairly brand loyal. And loyal to a fault for something I believe has tremendous value. Years ago, I had shares in a gold streaming company - I loved the management team. Both the CEO and their VP of Capital markets are born again Christians like myself (I know, it shouldn't be a factor, but I appreciated that we shared the same spiritual values). I had chances to talk with them regularly. By all accounts they had successful track records in that mining and gold sector. I bought in, as is my custom, at the wrong time and bought in higher. The stock traded flat for years (no dividend) - and then started dropping when gold started dropping. 5-6 years later I sold it for less than I bought it for. Of course, since my sale, it has gone up, up, up. But it is an object lesson to me that I need to take the emotions out of investing. Otherwise, I can sit on something I believe in, but I would be in the minority.
So for Martello, I sit and think a few things.... 1) like most of you, I got in because of Bruce and Terry. Recognized successful business people. 2) I got in because I understood the technology and appreciate the value proposition. 3) I got in because, well, I bought that overpriced t-shirt, and well, I believe in this company. But over the past little while, I am seeing some shortcomings. Inability to deliver growth despite being in a hot booming sector and the climate is ripe for the technology to flourish. I can't ignore things for long looking at my tshirt, thinking, surely I wasn't a sucker for a gimmack, was I?
As I am break-even on one account and severely under on the other, I can take it one quarter at a time. But unlike the past few quarters, I am no longer adding on dips. I certainly want to see Martello succeed, but I am not willing to wait years for this, and miss out on other opportunities just because of some perceived sense of loyalty.