The markets are efficient. There is no such thing as free lunch. The road to big gains is paved with lots of duds. So at the end of the day, even if you hit the occasional home runs, by the time you do your end of year summary, you will see the the true picture of the portfolio.
There have been many, myself included, who got in at the peaks when the deals were done, waiting for funds, funds being held up, timing of announcements etc. and ad nauseum So when the deals did not materialize, selling at a loss because that was the attractive option available at the time.
This time around, my sentiments are close to yours. I just don't see how these guys can get away with a scam over and over again on the same property, same stock, same scam, same mountain, same assays.
I think if they are scammers, they would move on to another one, not repeat the same. I know, this year looks pretty much the same as last. Well, much to their credit, they used other verbiage to hook us longs at the top again, than last year. The results are the same, but the methods were a little different. So, I believed the done done done story. I did accept my own version of how they can't be that brazen for two years in a row, etc. My own rationale got me and my sphere of influence back in. Some in my group have sold and will never look back. Some sold at a loss and are holding the rest for pay day. Others are down so much, they are looking at averaging down, as I am doing now.
I think this time, I will probably break even. But this is a far cry from the $1.00 per share potential gain this was to be.
So I say again, if it was as easy as it was cracked up to be when the deal was done done done, then everyone in the world would be owning only the winners. No one would ever loose a dime. But, of course you know, the streets running with blood are not paved in gold.
