LCK 0.00% 21.0¢ leigh creek energy limited

Hi all, No hidden agenda with me either. My post a few months...

  1. 100 Posts.
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    Hi all,
    No hidden agenda with me either. My post a few months ago, listing reasons for selling, said I hope LCK does well. I'm perfectly, seriously happy for it to go to $5 and 20 bags with me watching from the sidelines.

    Like Legman I lost 5 figures, my loss in fact $26K over three tries. But I'm happy - not to have lost money! but to have learned stuff. Beating the odds in this game mean identifying a mismatch between perceived risk (by the market) and actual risk. And of course finding those asymmetric trades is really hard cos everyone wants one. No way do I have the resources for thorough DD. With LCK I just went by instinct - smell test - whereas Legman has done hard research. The solution is to look for good DD by others and ride on the coattails. An unofficial channel like HC can be great for that.

    Turning into a monologue... but with readers' indulgence....while shopping this morning I was seeing what I could remember of W. Buffet's advice.
    • Rules for Investing: Rule 1 = Don't Lose Money; Rule 2 = Refer to Rule 1.
    • The stock market is a device for transferring money from the impatient to the patient.
    • Only buy a stock where you'd happily buy the whole company if you had the means.
    • Never invest using borrowed money.
    Seems solid common sense - trying to follow it.
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