Forum Archive Index - May 2002

[Phaedrus <Phaedrus@techemail.com>]

Peter,
      You have lost 73% of your initial investment in SPE.
It would be good for you to examine this disaster, and try to learn something 
from it. Ask yourself questions like :- 
Why did I buy SPE in the first place?
(Maybe you should change your purchase criteria.)
Why did I continue to hold SPE as it continued to fall?
(Maybe you should consider using a Stop-loss, to limit the damage when you make 
a mistake.) 
Why am I REALLY wanting to buy more SPE? 
(Maybe you am still trying to convince yourself that SPE is worth buying, that 
you have not made an error of judgement.)
Is there a chance that I am throwing good money after bad?
(I think so!)
Do I truly think that, of all the stocks in the NZSE, SPE offers the best 
prospects of success for a new investment?
(You would have trouble finding anyone else to agree with you there.)

 Generally, averaging down is a bad move, compounding the initial mistake. 
Don't do it! 
 Quite apart from anything else, SPE is still heading down, making new lows 
with no sign of a bottom - but let's not get technical here.

                Phaedrus.

Ross, Re RBC - That is a good overview - you are certainly on the right track. 
It is of value to incorporate broker opinion and fundamentals the way you have.
 

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