Lessons Learnt from Stupid Mistake - Share Yours

I also lost abt 10k in china milk, to date it is still suspended
I write it off totally already

(19-02-2014, 08:57 AM)Temperament Wrote:

(19-02-2014, 08:42 AM)corydorus Wrote: Many years back i invested in a s-chip. That time is still not a blown up.

The company hits profit warning reason being due to road work affecting sales delivery. I was naive as i never thought management can get to so low on excuses. However one after another each Q, the excuses come in a string.

Do not be too forgiving on management excuses. Let your SELL action do the talking. Is the procrastination that kills.
I finally sold at a lost - 5 digits. Today that stock is still in the market at a much lower price with hardly any dividends.

One skill i learned from this experience is CUT LOST and the other is Management Integrity is utmost important.

i think almost the same thing happened to me (lost 5 figures) . But this S CHIP was a darling of the market then. Show it has a lot of cash and cash equivalents. Even one of our local banks supported it. But in the end, all were "fakes".
Anyway, my mistakes because i KK lol.
Never S CHIP again or anything to do with CHINA.
Why?
The world is large enough for you look elsewhere that can make you some money too.
Why must go into the TIGER DEN if not necessary?
IMHO.

lost some win some ...
at the end of the day, we just break-even...
have lots of fun and entertainment...
hopefully, pick up some fond memories too.

**********
yesterday, I was on MRT and saw a lady playing 'casino' on her tablet.

it started with $6,006 and she won some $$$ when I started to look at her game.

I check on her $$$ occasionary...
win some, loss some

just before I alight, she has $5,906

I don't know what will happen in the end, but I do know that the game does keep her busy throughout her journey.

remind(self.me) => 'Carpe Diem'

Love Compassion


A Life not Reflected is a Life not Worth Living.

I do not understand why she trust so much on the Casino software to play real money.
Personally i feel the software can be easily manipulated by the programmer or owner and likely will never be caught.

(19-02-2014, 11:39 AM)corydorus Wrote: I do not understand why she trust so much on the Casino software to play real money.
Personally i feel the software can be easily manipulated by the programmer or owner and likely will never be caught.

i can confirm now if you google what makes the most money for Casinoes around the world, it will be the "One Arm Bandits".
Psychologists can tell you why it is so not because of the machines's software alone but also because of our psychology make-up.

(19-02-2014, 11:39 AM)corydorus Wrote: I do not understand why she trust so much on the Casino software to play real money.
Personally i feel the software can be easily manipulated by the programmer or owner and likely will never be caught.

Imo she is not playing with real money... those apps version that gives a daily credit to play but u can buy more credit with real money doubt.

Stick to the thread
My first massive stock loss is be creative. Bought using my father's acc. It almost wipeout all my 3yrs ang pow saving...high 4 digit

2nd would be the S-chips
shanghai asia (lost 1xxx if i add the div)
United food ( lost 1xxxx) heng i cut loss early
Jishan holding (lost 3xxxx) i avg down more when it is 10ct...

S-chips... ah.. I had my fair share of failures.
Celestial
Oriental Century
Cacola
United food
The last two are still listed and trading but the prices have declined tremendously. I had divested them away at a loss.

The lessons learnt were precious. Till date, I had not gotten any of the equivalent of the above mistakes again(touch wood )

For non s-chips, I could not recall serious mistakes although there were close brushes that might have turned into disasters.
JEL
FSL

The investment I'm most unhappy with so far should be Eastern Holdings. Bought it cause wanted to try out asset play, versus the usual earnings based or net net approaches. Tis my opinion only but I think it is hard for asset play approach to match the returns from earnings approach.

(19-02-2014, 01:28 PM)smallcaps Wrote: The investment I'm most unhappy with so far should be Eastern Holdings. Bought it cause wanted to try out asset play, versus the usual earnings based or net net approaches. Tis my opinion only but I think it is hard for asset play approach to match the returns from earnings approach.

Lost money on EH also for similar reasons. I think the challenge with asset plays are the reasons why an asset is undervalued and the difficulties in unlocking the value. Lost around 3.6k on EH 3 years ago.

Digiland.

Thought I can flip and make 100% profits on the back of active trading interest. Actually was sitting on some profits, but ended up at 98% paper loss (Around 10k). Still in my portfolio as a reminder.

Sunshine Holdings

China based property developer, based in Henan. Enough said. Again, paper profits around 15k, before tanking all the way and sold at loss 2Xk. Should have known it was too good to be true.

(19-02-2014, 03:02 PM)LionFlyer Wrote:

(19-02-2014, 01:28 PM)smallcaps Wrote: The investment I'm most unhappy with so far should be Eastern Holdings. Bought it cause wanted to try out asset play, versus the usual earnings based or net net approaches. Tis my opinion only but I think it is hard for asset play approach to match the returns from earnings approach.

Lost money on EH also for similar reasons. I think the challenge with asset plays are the reasons why an asset is undervalued and the difficulties in unlocking the value. Lost around 3.6k on EH 3 years ago.

Smallcaps, assets play will lose to earnings. Coz earnings can go for PE 5x to 40x. Assets at most 3x based on 30% disc to RNAV. For asset plays, better if the company
can grow NAV consistently.

LF, how to lose money when EHL at 3 years high?