GREY:XEBEQ - Post by User
Post by
tamaracktopon Jul 15, 2021 2:03pm
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Post# 33553116
Hey GrandSabot!
Hey GrandSabot!For once we agree.
Averaging up most often is a good practice, particularly after a big sell-off
Averaging down is often throwing good money after bad
I knew a broker who kept averaging down in Nortel all the way to Zero.
He died bankrupt.
Probably one of my proudest accompishments in my 30 years as a broker was successfully dissuading all of my clients who wanted to buy Nortel.
My clients who did own it only owned it when it was spun-off from Bell.
They sold it.
Nortel peaked at $124.25. I remember the day.
It was 37% of the TSX Composite.
It went to zero.
Never once in Nortel's history did that company report a profit.