Cannot express it any other way.
"The strategy should be to buy low and sell high based on how the business is doing. And on that front all is exceptional.
I have been investing for 40 years and don't remember ever buying or hanging around in a company/stock I didn't like. Seems like a pretty stupid investment strategy."
One cannot control nor accurately predict the POG or SP as they are absolutely out of the control of investors or the company. One can only seek to invest where fundamental progress is steady and the company is sound. The vicissitudes of the market are impossible to time. However, over the long term value and progress count in the fundamental scheme of things.
Some invest on emotion instead of research. Some here have invested, coming late to the game, and are now far, far, underwater and have nothing left to average down. They are locked in and will only breakeven someday, when the values are reflected in the share price. They do not have the courage of their convictions to just sell and move on, without trust in their judgement to pick a better opportunity.
Considering the difficult climate over the last couple of years, Petaquilla has prevailed in both growth and expansion of reserves.
Soon many warrants will expire, and as Digi pointed out in his last post, the climate and opportunity for investment is excellent. While some others are close, I have not found another company that has all the things going for it, as were discussed in the July 23, 2013 letter posted on the web site. With the publicly known metrics, it is obviously a great place to invest.
Those who only look in the rear view mirror miss the future. Sitting on shares purchased at over one dollar and refusing to average down when there have been opportunities below $0.30 makes little sense to me.
However, if there were no such people in the retail market, then it would be more difficult for the rest of us to excel. I hope everyone does well in the future, but just holding shares from above one dollar, and not taking advantage of the opportunity with all of the information that is available, is self-defeating.
Each is responsible for their own decisions, and will be bound by the result. As they say, some fish, some cut bait.
GLTA!!!
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