Sirius minerals shares

[5huggy]

4 minutes ago, vand said:

You've obviously got a  much better deal than those who bought a year ago

  EGGS  SPEER ee NZ - - 😉

BERT WERT DUZ AYE NO! 

[Roy]

Who is this mysterious Bert Wert?

Is he a youtuber?

[5huggy]

Hee z  fernetikz! 🥴

[5huggy]

SO did any one nail some more this last half hour @ 3.18p ???   🤣

 

[5huggy]

And again some more - - tee HEE 

Sirius Minerals plc (SXX)
Ordinary GBP 0.0025

6971 shares bought at 3.0839p

[silvernewbie]

Price falling now is normal due to uncertainty company still has enough money and ideas to secure alternative funds.  A share not to watchdaily

[5huggy]

3 minutes ago, silvernewbie said:

 A share not to watchdaily

oh yes it is if you trade and have a screen full of "flashing lights" - 😉

This where my mate bert appears!!!

BERT WERT DUZ AYE NO! 

[vand]

@5huggy please consider carefully what you are doing here. Whilst I am not against a cost-averaging strategy, what you are doing is wrecklessly doubling down willy nilly. That is the opposite of what I advocate, and the opposite of good risk-management.

What will you do if it drops to 2.8p? double down again? 2.5p? again? 

These look like a DfE waiting to happen. 

 

[ittle5huggy]

Me I'm happy with Sirius..... yes they pulled a (junk)bond issue that has forced the management to go look at alternate sources for securing the required funding to see the project through to production, this sort of venture often has these sorts of issues and the BIG money knows it a tree shakes to drive the small retail investors out so they can maximize on their interests is inevitable.... you'd have lost a lot more if you pre subscribed to Uber or Peleton  I have belief that these boy's will come good... Long term Hold that's why I nicked some more at 3.01 pence this morning

[ittle5huggy]

Not to mention..... They got a great big hole in the ground in the High Peaks..... who's going to pay to fill it in when there's all that good stuff in there.....🤣 worst case in my honest opinion.... some other miner or person(s) with vested interested in the area Buy's out at a premium for those holding 🤣🤣

[kimchi]

6 minutes ago, ittle5huggy said:

Not to mention..... They got a great big hole in the ground in the High Peaks..... who's going to pay to fill it in when there's all that good stuff in there.....🤣 worst case in my honest opinion.... some other miner or person(s) with vested interested in the area Buy's out at a premium for those holding 🤣🤣

Due to corruption Sirius could well be designed to fail, I certainly see signs here...screwing all the original investors (lots of small holders and local people, who have bought into this big time). Than another big gun comes in with all the cash to actually make it work (after the ~£250m from initial investors has been wiped out, and basically all the main work already completed).

[kimchi]

Whitby is one of the most corrupt areas in the UK by the way from my research (which is saying quite something).

[ittle5huggy]

15 minutes ago, kimchi said:

21 minutes ago, ittle5huggy said:

Not to mention..... They got a great big hole in the ground in the High Peaks..... who's going to pay to fill it in when there's all that good stuff in there.....🤣 worst case in my honest opinion.... some other miner or person(s) with vested interested in the area Buy's out at a premium for those holding 🤣🤣

Due to corruption Sirius could well be designed to fail, I certainly see signs here...screwing all the original investors (lots of small holders and local people, who have bought into this big time). Than another big gun comes in with all the cash to actually make it work (after the ~£250m from initial investors has been wiped out).

@kimchi if you mean they let it fail and go to administration, and some other organization comes in and does an asset strip.... I would say this I think in senior unsecured dept they will loose more, most bonds held have been under the agreement of them bonds are in the process of being payed down... so we are the only ones.... if you hold that are due any payment from a take over....

and holding 43139 of the buggers... I'm sitting tight

[kimchi]

11 minutes ago, ittle5huggy said:

@kimchi if you mean they let it fail and go to administration, and some other organization comes in and does an asset strip.... I would say this I think in senior unsecured dept they will loose more, most bonds held have been under the agreement of them bonds are in the process of being payed down... so we are the only ones.... if you hold that are due any payment from a take over....

But if the company fails utterly any takeover can simply name their price, no? Be it £1 for all existing shares?

[ittle5huggy]

1 minute ago, kimchi said:

13 minutes ago, ittle5huggy said:

@kimchi if you mean they let it fail and go to administration, and some other organization comes in and does an asset strip.... I would say this I think in senior unsecured dept they will loose more, most bonds held have been under the agreement of them bonds are in the process of being payed down... so we are the only ones.... if you hold that are due any payment from a take over....

But if the company fails utterly any takeover can simply name their price, no? Be it £1 for all existing shares?

Argh the old one of buy company and assume debt.... in nearly all cases of that happening I think you will find they where in private ownership not public.... Focus DIY springs to mind as I worked for them, this is a listed company as such you (if you are) are an owner... therefore as an owner have a voting right in what happens going forward.... In the word of BYB not offering advise, however I'm sitting tight.... If I sold now I've made a loss ..... if I hang on and it goes south yeah i've made a loss, however if it comes good, as I think it will.... bring on the sparkle

[kimchi]

2 minutes ago, ittle5huggy said:

therefore as an owner have a voting right in what happens going forward

But not enough individual holders acting in unison to in any way match, much less out-vote, the majority shareholders, who would e.g be able to vote through a takeover of, for example, £1.

5 minutes ago, ittle5huggy said:

however I'm sitting tight.... If I sold now I've made a loss ..... if I hang on and it goes south yeah i've made a loss, however if it comes good, as I think it will.... bring on the sparkle

Yes I'm in exactly the same position. People say 'run, get what you can get while you still can'. I stand to lose too much on this, I have no choice but to hold and hope (I am resigned, if it goes it goes). But there ain't no fat lady singing yet as far as I can see

[ittle5huggy]

2 minutes ago, kimchi said:

11 minutes ago, ittle5huggy said:

therefore as an owner have a voting right in what happens going forward

But not enough individual holders acting in unison to in any way match, much less out-vote, the majority shareholders, who would e.g be able to vote through a takeover of, for example, £1.

11 minutes ago, ittle5huggy said:

however I'm sitting tight.... If I sold now I've made a loss ..... if I hang on and it goes south yeah i've made a loss, however if it comes good, as I think it will.... bring on the sparkle

Yes I'm in exactly the same position. People say 'run, get what you can get while you still can'. I stand to lose too much on this, I have no choice but to hold and hope (I am resigned, if it goes it goes). But there ain't no fat lady singing yet as far as I can see

👍

[5huggy]

2 hours ago, vand said:

@5huggy please consider carefully what you are doing here. Whilst I am not against a cost-averaging strategy, what you are doing is wrecklessly doubling down willy nilly.

opposite of what I advocate,

and the opposite of good risk-management.

What will you do if it drops to 2.8p? double down again? 2.5p? again? 

These look like a DfE waiting to happen. 

 

AND YOU KNOW THIS HOW! 

AND MY WILLY is mine as well as my nilly - and by the way , what do you KNOW of either my  level experience , KNOWLEDGE or trading experience!

Tad sanctimonious to "TELL" me publicly !

2 hours ago, vand said:

That is the opposite of what I advocate

ARE YOU TELLING ME WHAT I SHOULD BE DOING!  

 

2 hours ago, vand said:

and the opposite of good risk-management.

and you KNOW," HOW MUCH DUE DILIGENCE"  I  have done!!!!!!!!!!!

BERT WERT DUZ AYE NO!!!!

Thank you for your advice it will be filed under B   1  N!!!

[Bullionaire]

6 hours ago, kimchi said:

Whitby is one of the most corrupt areas in the UK by the way from my research (which is saying quite something).

There is definitely something fishy about the place... 

[5huggy]

😉

BERT WERT DUZ AYE NO! 

 

[5huggy]

[Realwealthuprising]

https://www.investopedia.com/terms/s/sunk-cost-trap.asp

This is investing psychology basics, its one thing to hold onto something speculative that you put a 1-2% of your portfolio in with hope, its another to go back again and again and again trying to reaffirm what was from the very beginning an overly risky investments. It’s simple, if something like Sirius makes up more than 2-3% of your investment portfolio then you have poor risk management skills and therefore are likely to lose your money as an investor.

Sirius is a speculative risky investment and has been for years, and there is nothing wrong with that, so long as you treat it as such by investing only a small amount of your money in the company at a low enough price to make it a good risk premium. 

For those that put a significant amount of capital in this however and to those who find themselves reinvesting now after a huge reality check simply because they are psychologically unable to accept that they may have been wrong...think long and hard about what strategy it is your actually following? Because it certainly isn’t a strategy given by anyone with any history of success in investing. 

Most likely you have lost sight of the number one rule in investing which is appropriately managing risk.

Even if your punt does pay off this time that doesn’t make you smart afterall... not if you risked more then a few percent or kept investing over and over in an already failing investment....no, smart investing is all about mitigating risks. What we are finding out now is that many people risked too much with Sirius...what happens next, who knows, but everyone with money in this company should evaluate how much risk they undertook here.

For those that are too far into this psychologically just remember even if this time are lucky enough for it to pay off...you cannot evaluate an investment purely on the positive outcome...it actually matters how much risk you took to get that outcome. If the strategy was high risk and dangerous, and you over extended yourself on something as speculative as a poorly funded Potash mining company in England... it doesn’t make you wise if it pays off, it makes you lucky. 

As an investor a wreckless mindset towards risk is the quickest way for you to lose your capital if not on this investment, on the next. 

Famous investor Howard Marks discussing risk said ‘an excellent investor may be the one who - rather than reporting higher returns than others - achieves the same return but does so with less risk (or even a slightly lower return with far less risk). Of course, when markets (or in this case YOUR company stock) are stable or rising, we don’t get to find out how much risk a portfolio entailed. That’s what’s behind Warren Buffet’s observation that other than when the tide goes out, we can’t tell which swimmers are clothed and which are naked’

What we are seeing and will continue to see that a lot of investors in Sirius were actually swimming naked because they got greedy and thought they could make a lot of money by investing more than a small amount in this thing despite the obvious risk. Of course now the tide is turning the real risk that was present has been realised for those who were overextended. 

[vand]

On 27/09/2019 at 16:09, vand said:

What will you do if it drops to 2.8p? double down again? 2.5p? again? 

 

Sub-3p now. Time to reconsider this question.

[tallyhojim]

Is that sub £0.03 in shares? As in, to buy a share is only 3p?

[blackadder]

10 hours ago, tallyhojim said:

Is that sub £0.03 in shares? As in, to buy a share is only 3p?

yes lol