FormerXBC Inc XEBEQ

RE:RE:How I went from Riches to Rags

[RichesToRagz]

Good advice. I wouldn't be in such a bad position if I had some cash flow or cash savings, which would allow me to wait out this growth stock carnage.

For now, I have to take out small amounts from my very deep in the red growth stocks each month to pay my bills, and hopefully there'll be something left over by the time growth stocks rebound in a meaningful way.

I have nobody to blame but myself. I've invested long enough to know the risks of what I was doing, but chose to ignore those risks. 

Hopefully any novice investor reading this learns a thing or two from my experience.  

ZouZS3 wrote:

RichesToRagz wrote: In January/February 2021 I was a multi-millionaire with large positions in high growth stocks like Xebec, AcuityAds, GoodFood, CloudMD, Skylight Health, Teledoc, Plug Power, Ballard etc. etc. Although I was "diversified" with about 30 different stocks across different sectors, I was anything but diversified, since I was invested entirely in growth stocks, with no value stocks to balance things out, and no bonds. 

Fast forward to today I'm effectively broke. My entire net worth has been put in these high growth stocks. I'm a relatively early retiree with no cash flow, and no dividend stocks. In order to get cash I have to raid my growth stocks which are extremely deep in the red. 

Let this be a lesson to everyone. Learn from my mistakes and be a more conversative investor. Diversify your holdings. Balance growth stocks with value stocks. Buy dividend paying stocks. 

Thank you for reading. Feel free to criticize my poor investing skills and my precarious financial position, I deserve it.  

Money comes & goes. I personally fall in love with stocks but never with money. I did fall in love with Xebec but like every love story, there is pain that comes with it. Many times it's good pain that makes you learn and grow. To make you feel better, I've invested 100% of my portfolio in Xebec not to mention all the people I know who also invested in the hundreds of thousands of dollars. Unlike you, I was averaging up from the 1.70s up to 10$ and now have an average price of around 6. I am under water but still adding. Back in 2017, before it hit the mainstream I believed in Bitcoin & Etheruem when it was 800$ and 70$ respectively and not a single person around me told me I was doing the right move. Every single person was telling me I was going to lose everything I had saved. But guess what, today im sitting in a half million dollars condo. The key is to set yourself both a timeline and the amount you desire to reach and from there make your moves.l and during dark time remember your goal. Patience is rewarding and I'll be right with Xebec too. I won't complain on my returns until 2025.