I had one single “speculative” company in my stock portfolio. Just a few shares, nothing spectacular. A DAX company with a global footprint and commission based, “bullet-proof” business modell. Today this company lost ca. 70% of it’s stock market value by postponing the 2019’s results presentation for the 4th time in a row, after failing to recieve the report signed off by the auditor. Apparently due to “missing” 1,9 billion Euros.
Yo, Wirecard dudes, WTF?! How can a company not notice that f*ckin’ 1,9 billion Euros are missing in the annual report?? 🤦🏻♂️
On the second thought, it’s really not a biggy. Sometimes I also feel like I’m missing 1,9 billion Euros, so from that perspective I can totally relate. Those things just happen… you know, it could have happened to any of us… a billion here, a billion there…
All of my other investmens are “safe” (or at least “conservative”) investments, but here I was after a quick buck. Therefore – no regrets (well, almost “no regets” 😩). You know the old saying: “I never lose, I either win or I learn.” So – I guess this time I learned. A lot. No more speculative stocks for me.
Actually, I could have closed this position yesterday evening after it went up, way over 104 Euro per share. And I’d even be taking home a small profit, too… But I got greedy. “Why would I take ca. 100 Euro if I can have 200 or 300 Euro?” Haha. What a bummer. “Greed […] is good”. Yeah, right. Greed is good my ass. F*ck you, Gordon Gekko.
Next time I’ll stick to my fellow investor’s friendly advice:
“Be fearful when others are greedy and greedy when others are fearful” Warren Buffett