Anybody got burnt fingers stories to share?

[qwertzy]

In the midst of the bull run, i'll like to ask a more sombre question:
is there anybody here who got burnt badly before and come out the wiser for it? Do share such personal case studies leh.

For me personally, being a newcomer, I am already incurring losses in this bull run. It may seem unbelievable, but mainly its due to my buying of Sunlight. Hence I am not only incurring paper losses on Sunlight, but also missing out on the potential earnings presented by the bull run now. Its abit like rubbing salt into the wound. Ah, lesson learnt.

[blacklotus]

But of course. I learnt my lesson in 1993.

I was still in NTU then, but the stock market fever was ever present in the classroom. After and even during lessons, rather than concentrating on school work, we will look at our pagers for any stock market movements. (Back in 1993, handphones aren't affordable yet for most of us.)

Initially, all was well when I played with my own money and made a nice profit. But then, I started using my overdraft facilities to borrow money from the banks to buy stocks. After all, I thought, what's 5% per month interest when every week I can be making 10% or more gains? Then, as in all bull runs, it ended soon enough.

To cut a long story short, I ended up borrowing money from my parents to pay off my debts and avoided bankrupcy, got a big lecture from them as well as my economics lecturer (who is also my class counsellor).

As Keynes once said "The market can be irrational longer than you can remain solvent."

Even Issac Newton lost money in the stock market (Read the South Seas debacle). So all in all, I am in good company.

And also as I managed to walk away from a crash without permanent damage, and even profit from the crash of 1998, 2000 and 2001, I consider myself very fortunate.

[junyong]

Originally posted by qwertzy
In the midst of the bull run, i'll like to ask a more sombre question:
is there anybody here who got burnt badly before and come out the wiser for it? Do share such personal case studies leh.

For me personally, being a newcomer, I am already incurring losses in this bull run. It may seem unbelievable, but mainly its due to my buying of Sunlight. Hence I am not only incurring paper losses on Sunlight, but also missing out on the potential earnings presented by the bull run now. Its abit like rubbing salt into the wound. Ah, lesson learnt.

I got a friend who bought chartered share at $18 . He is damn rich. Now this share has dropped to around $1... I m wondering how he feel about this.

[AK47]

He could have already sold off the shares.