Monday, November 18, 2013

I like to gamble - a little

I like to gamble, but just a little. I rarely buy lottery tickets. I don't see lotteries so much as gambling as simply tossing away one's money.

No, I like to gamble on penny stocks. My investments are no more than six months to a year's worth of lottery tickets and I take pleasure in watching the stock climb or tank. It can take awhile for the game to play out and during that time my need to gamble has been sated.

Labrador Iron Mines (LIM) was one of my penny stock picks. What a miss! It has dropped from around a dollar to a quarter today. I should have bailed when it had an early pop to $1.50 and above.

In the case of LIM, it is beginning to appear I might have done better with lottery tickets.

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