Fuddle...Everyone is entitled to their opinion.
I'm not concerned with what others said three years ago. The crowd is always wrong. I don't care what others paid for a stock in the past, it has no bearing on now except to demonstrate near term potential.
One year ago, the people who bought GRE for 4.43 US did not do so because they thought it was going down. Now that the stock has crashed, buyers are few and far between. Just because everyone who bought in the last year lost money does not mean it will remain so in the future.
Let us look at this another way. Let's assume we buy 50,000 shares today at 12.5 cents. (by the way, if it goes to .10 thats -20%) . What would the 50,000 shares be worth if GRE moved back to it's price from this date in 1998?
Thats right, one quarter million dollars! Now if that sounds sar fetched
remember that it was worth that one year ago, before production targets achieved today were met. You may say that a dark cloud has been hanging over gold for years, but I've been in the game since the late 70's and wholeheartedly disagree. The negative sentiment right now is unmatched in our lifetimes. Furthermore, I don't think it is by accident.
What is the cost of this speculation? $6,250 plus nominal brokerage costs.
Now I could no doubt walk in your garage or living room and point out things you paid more than that for that are guaranteed to become worthless. In your garage is probably a vehicle that you lost more than $6,250 the day you bought it.
I have no problem putting a few dollars completely on the line with the potential for astronomical returns!
In fact, I would much rather divide investment capital into 10 or more parts and invest them in 10 well thought out speculations of which all have the potential to return ten to one or better. Than to invest in
one supposed safe promise of a party or government to pay in return
peanuts. People like Russet, who have great faith in the fiat system
don't realize how risky their promises to pay are in terms of world financial history.
At least if I'm risking my principle, let me understand so and have equivilent reward for the risk!
EZ
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