by GodlikeRoy » Tue Jan 22, 2008 3:10 pm
I've spent most of this morning reading up on what's going on and this investing in the stockmarket shit is really fun/interesting. It's a bit like poker, the more you read and know, the more you realise how little you actually know.
With the ASX dropping 7.3% yesterday (the largest in 25 years) it seems the drop of this particular stock was market related and people are in fear so they're just selling their shares at whatever price they can get. I still think PDN is a great stock to have and now it's even more undervalued so I put some more money in it expecting to see it rise back and continue to grow in the next 3-5 years.
It's probably also a good time to have some spare cash on hand to look to buy a few other undervalued stocks in the next few days. I guess the safe thing would be to sell now and put my money in a high yielding savings account or something but that's no fun.
Poker is silly.
It is not enough to be good at chess, you must also play well.
Somewhere in the world someone is training when you are not. When you race him, he will win.