Tuesday, November 19, 2013

LIM: Speaking of gambles

Added near the end of February 2015: I broke my rule and invested in a company referred to as "unprofitable." My investment, very small, disappeared completely. Oh well, it was more fun owning LIM than buying a lottery ticket but no more profitable.

Labrador Iron Mines just continues to fall in value. Today the stock was below a quarter. Ouch! I'm damn glad I don't have a lot riding on that horse. This nag may fold before getting anywhere near the finish line.

I should have sold long ago. Foolish. I've now lost more than 75 percent of my original investment.

I have a rule: Never buy stock in a company that is not profitable. I broke my own rule and now I am sorry I did. Oh well, I didn't put a lot into LIM and so I can't lose a lot. C'est la vie.

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