Whats been your biggest financial blunder

hodd

nearlyretired2004 wrote: »

Also getting caught up in the Cadogan hype and buying at around 37.5p .... now at around 13p .... although only a few £hundred
so no huge loss ..... and still hope I suppose!

I was one of the posters who reported the CAD FIVE BAGGER FOR THIS YEAR! thread to admin. Two or three posters in particular really were drinking deeply from glasses hall full of something or other during their daily ramps. Others daring to point out this particular share was plummeting like an overweight stone were ridiculed with complex graphs showing nothing at all except a large and invariably red arrow pointing constantly in a northeasterly direction.


I would say it’s good that the thread was deleted, but then again it should have been made into a sticky as a trophy reminder of some of the nonsense sprouted by a thankfully small proportion of posters.

sabretoothtigger

Censorship is hardly something to celebrate, free speech is dangerous and this is not an investment forum after all ? Maybe they should clip that off and save the confusion

The share has rubbish performance but Im not sure the company prospects are the same. That difference is what makes it profitable or not, removing the thread gives us less information on the problem or not that might exist

Government is removing stamp duty from AIM shares and allowing them into ISA

hodd

Northeasterly arrows on a diagram do not useful information make. When the CAD thread was active two or three years back, the price was in the high thirties; at close of play today, it's 14. Pray tell what useful information we have missed by the removal of the CAD thread?

sabretoothtigger

Since it was not only closed but censored altogether we cant tell , it might have served as a lesson. Since RBS lost 90% of its value and its details are still widely available as well as other shares, its futile to stop every potential mistake by removing the choice or information.
Thats the opposite of this thread

Rarely are we better off for knowing less? Its the same logic parallel to bailouts and printing money, nanny government will remove all judgement risk and every debt is forgiven by rising prices

Glen_Clark

Never saw the CAD thread.
Was there something potentially libelous on it that got it deleted?

hodd

Glen_Clark wrote: »

Never saw the CAD thread.
Was there something potentially libelous on it that got it deleted?

There was nothing libellous or untoward. It's just that two or three particular posters took every opportunity to extol the virtues of this company. Do a Google search to see the performance of this share which was in the high forties two years ago is now at less than half this figure.

The thread was entitled "CAD ten bagger for 2010", which was optimistic in the extreme, and there was neither any background nor justification given as to how such gains would occur.

People should of course conduct their own research before buying shares, but unfortunately some are swayed by confident claims written on the internet, which in my opinion was the purpose of the thread on here, i.e. to ramp up this company’s share price.
The CAD thread should not have been deleted; it should have been locked and stickied as a permanent reminder that internet forum recommendations should be viewed with extreme caution.

Glen_Clark

grey_gym_sock wrote: »

the costs of the bailout + of the depression caused by the financial crisis are far greater than the previous high tax take..

Absolutely. And previous high tax take was because of profits inflated by PPI mis selling, etc etc. The only way the banks can make the level of 'profits' they made before is through hidden subsidies like the 'funding for lending' scheme, or so called 'Good Bank / Bad Bank' Splits which simply privatise the profits and nationalise the losses.

Frogletina

I didn't sell my shares at their highest because I didn't need the money at that point and then they plummeted like a stone. Went from about £14 a share to around £2 when I bailed out.

Very soon afterwards my partner decided he was moving out and I needed money to buy him out of the house. The house then cost me in total 150% of the original cost (value had doubled) - I would have been better taking the whole of the mortgage on myself as I had been putting more into shares than his share of the mortgage :mad:

bigfreddiel

this thead just keeps going - glad to see no advisors have made any blunders

fj

Leblanc_2

I have had 3+ significant blunders.

1. Was gazumped in the property we were buying but continued with the sale of our property. Lost £40,000 in the process. Blame the solicitor.

2. Recently gazundered. Potentially lost £20,000. Again blame the solicitor.

3. Have bought a succession of new cars and lost a great deal of money over the years. The most recent was bought Dec 2010 for £20,000. Book value now only worth £8,400, if I could get that!

Am I learning yet??