Whitecap Resources Inc T.WCP

RE:RE:I bought in 2014

[Dogsbreakfast4U]

Citizen13 wrote: I did the same but likely later than 2014 . When it got whacked 40% in a short time. i thought that was the deal of the century and the industry will never destroy the commodity price for long . Man was I wrong . Not WCP's fault , not our fault . The fault came from USA OG CEO's whose salary and bonuses were based on growth. What a facking carnage.  Anyways , when something like that happens you double down as close to the bottom as you can get and your break even is a lot more acheivable . Once it went down like 85% i said I'm holding this as long as it takes . There's no way they are taking this cash away from me. If this industry crashes and burns one more time in the next decade or 2 they will have zero investors and they know that . They will have zero banks loaning them money and they know that. Hopefully they're not stupid and greedy again. 

Dogsbreakfast4U wrote: I have held this stock since 2014 in my rrsp for the dividend. I did the same thing with CPG. Both were huge mistakes. As I said previously I sold half my position in WCP in the $12 range at a loss a couple of weeks ago thank gawd.  I am still way under water now for the rest of my position. In other words anybody who bought 8 years ago is still way under water. You call that a long term investment? The only people making money consistently is Grant and his management team with the massive salaries  and options we the owners of the company give them because we are so generous with our long term...losses. Commodities stocks are all about buying low and sell higher not buy and hold. 

One thing I have learned is that history tends to repeat itself.