Dear Kabbott:
Understand your feelings entirely, and certainly didn't want to make anyone feel bad. Have hit a few bumps recently myself, especially with CTYS. About a 90% loss in just a few days. Bought when I thought it couldn't get hit again, and then BOTTOM DROPPED OUT. No bounce there, just a THUD!! So that's when I started to change my portfolio over to long-term investments in start-ups, with stocks that are relatively cheap with lots of upside potential. I really don't understand all the lingo in the tech sector, so joined SI to find out more, and expecially don't understand FNCLY. There seems to be many knowledgeable people here, but still an unclear expanation to what Mind Wizard really is, who will ultimately be the purchaser's, and if this company has any other products in the pipeline or what the future holds. I just hope that using it is easier than understanding the company's explanation of the product. I am not long on FNCLY, but was "buried" in NHMCF. Kept averaging down in steps, so that now I am on the + side. The only problem with doing that is the availability of resources and faith in the company. If I hadn't believed that it wasn't worth the value when I first bought in, I wouldn't have kept buying.
As for the "fun" part, I don't do this for a living...yet, and probably never will be good enough at it to succeed. I also believe that investments like this should't be made with capital that one counts on for day-to-day expenses. This is basically a high risk, high reward stock. As my business occupies my time to the tune of about 70-80 hours a week, taking a "flyer" on a company like this is "fun" for me. On the plus side thre is still some volume and a small upside gain. Who knows, this company might someday become another "giant" of the industry. It appears that with this program, they have gone where "no man" (change that to no "person") has gone before. As for investing in "good" companies, let me just say this. Today, every investment I have that has positive earnings was "down". Lot's of red ink there. Every investment in start-ups, which all have negative earnings were "up" or even, with the exception of FNCLY. So the grass is sometimes greener over here, and you never have to worry about "margin calls".
On the negative side is the amount of shares this co. has outstanding, and how easily they are distributed in lieu of cash for services rendered. By today's valuation this company has (if I read correctly) a market cap of something well north of a 1/2 BILLION dollars, and is bleeding cash at a pretty good rate. Personally, unless "Mind-Wizard" is a hit, or their new acquistition of Cavlec to help with sale's in of all places, the "Pacific Rim", (read Asia), it could be a lo...ooong time before this stock pays off.
Here's what I suggest. Read the pretty, glossy, and extremely wordy annual report you must have received from them. If you understand much more than table of contents, get back to me, because I don't. If you don't understand it, please try to find someone who does and then get back to me, and tell me if it was a worth while buy. Personally, I think I should download a copy of "Mind Wizard" to help me through the annual report. Maybe it was printed in a language that can only be understood by Mind Wizard. Maybe this is the only true test of "Neuronetics", available to date!! Thanks in advance, and good investing---Gary |
