Try to make the best of a sad and deplorable situation.
What we're seeing here may be judged deplorable by minimal ethical standards. But the law permits it, and the culture of capitalism encourages it, with the justification that laxity of standards is necessary to attract venture capital. It's bullshit against reality, but that's the reality.
I'm sitting at a loss, too, though I can see from the posts here that others have much larger losses. All I can suggest, by way of defending ourselves, is to do one of two things:
First, wait - you might as well minimize your losses (and some may even profit) by waiting the rascals out and selling into the rally they will no doubt engineer to benefit the intended beneficiaries of this transparent strategy of self-enrichment. So doing may at least frustrate the limits to which their greed is fulfilled by any future promotion.
Second, buy more, if you can afford it (holding your nose), and achieve the same affect as above when you sell into a rally, but with a chance at garnering a larger profit or minimizing the overall loss.
Remember these turkeys the next time your hair bristles when somebody doing something useful for a living asks for a modest 3-5% increase in their annual wage or salary, and their employer says its unreasonable. |
