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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Richnorth who wrote (26527)8/12/1997 5:37:00 AM
From: DJRoss   of 28369
 
Somebody mentioned the words "Caveat Emptor". Now I realize it was meant as a humourous warning with its somewhat liberal translation. But I would like to expound on those simple but yet powerful words.

"Let the buyer beware" Nobody likes to be conned out of hard earned dollars. It gives one a feeling of frustration and anger, and most of all a feeling of shame and embarrassment.

ANy time we as traders or investors decide to click that enter order icon or speak the words buy or sell over the phone, we are 100% responsible. No one can be blamed for our actions. We at that moment have absolute controll of what we are doing.

While we cannot be responsible for what others say, it is up to each and everyone of us to weigh the information faulty or not and make decisions based on it.

I don't recall reading or hearing or seeing anywhere that Bre-X was called a conservative safe play. A stable growing company that produces dividends for its shareholders. Words like speculative and high risk seemed to be constantly associated with the company even before the dynamic share price rise up.

Those of us investing in Bre-X(including myself) wanted to score big. We were not looking for a 15% annual return on our dollars like some Money Market fund. We were not looking for a DRIP to reinvest our dividends out of faith in the company. We were looking to get rich.

By reading the pre scandal posts, those who were long had this intent in mind. Otherwise they would have put their money elsewhere.

There is another expression that I used to hear alot when I was a child, and that is "You can't deceive an honest man."

Please let us not bicker. What is done is done. Passing the buck of responsibilities for ones trades or investment decisions doesn't make it true.

Yes, Bre-X is guilty for several things, but that doesn't mean that they are guilty for the fact that we decided to jump in. Nobody was there with a loaded gun saying that we must. Losing is always hard, but facing ourselves is sometimes alot harder.

Good Luck all of you who lost money in Bre-X, may you make wiser and better decisions in the future and may those be successfull.
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