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What was your worst mistake in trading.
Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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NOT buying SCOM at IPO thinking it was way overpriced and the number of shares (billions and billions if I remember correctly) were way too massive for my comfort. Looking back I should have bought up whatever my allotment would have been and then on the first day of trading, buy daily until I exhausted all my available funds, then just sit and hold for the next 50 years. Of course hindsight is always 20-20. Who knew a little company that helped you send money by phone and make calls would turn into a monster of a behemoth that literally powers Kenya.
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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 Laughing coz I can relate. #Murphy'slaw Start!
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Rank: Member Joined: 12/22/2015 Posts: 224 Location: Mombasa, Kenya
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MugundaMan wrote:NOT buying SCOM at IPO thinking it was way overpriced and the number of shares (billions and billions if I remember correctly) were way too massive for my comfort. Looking back I should have bought up whatever my allotment would have been and then on the first day of trading, buy daily until I exhausted all my available funds, then just sit and hold for the next 50 years. Of course hindsight is always 20-20. Who knew a little company that helped you send money by phone and make calls would turn into a monster of a behemoth that literally powers Kenya. To be fair to you Mugundaman, who knew? So what did you invest in instead of Safaricom and how did that go? Start!
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Rank: Elder Joined: 1/8/2018 Posts: 2,212 Location: DC (Dustbowl County)
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Metch wrote:
To be fair to you Mugundaman, who knew?
So what did you invest in instead of Safaricom and how did that go?
True @ Metch. Bought ICDC when it was still called ICDC and trading in the single digits (yes!). Doubled my money and sold off thinking I was a genius. Wapi? It too continued to soar like blazes to the point I just had to get back in. That was around the time it started getting into all these crazy numbers of joint ventures that were increasing its NAV big time each year. Then came the rebrand into Centum, the announcements about Amu Power and a host of other pipeline projects. Come to think of it selling off before it exploded in value (and pipeline projects) was yet another one of my biggest regrets. Then again who knew the scale of projects and joint ventures that were to come. Moral of the story seems if you buy into a solid (in Kenya read politically connected and -hopefully- well managed company) early just go sleep, do other things, vacation in Turkana, etc for about 10 years+ without pulling the trigger on the stock. I call it the Kibunga Kamau investing strategy. Does not take a rocket scientist (or God forbid a chartist/TA guy) to accomplish.
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Rank: Hello Joined: 4/19/2018 Posts: 7 Location: Nairobi
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Buying KPLC at 15 and then at 10bob, I have not sold the shares yet but am thinking of cashing out at a loss
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Rank: Elder Joined: 6/23/2009 Posts: 14,316 Location: nairobi
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Edwin Smith wrote:Buying KPLC at 15 and then at 10bob, I have not sold the shares yet but am thinking of cashing out at a loss Wow. MSC, plus KPLC.. Truly you have gotten the short end of the stick at NSE, but do not loose hope there is money to be made in the market, just depends on information! The one with the least information will always fall short in market asymmetry law COOP, IMH, KEGN, KQ, MTNU
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Rank: New-farer Joined: 8/14/2013 Posts: 20 Location: Copenhagen
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I once bought big quantity of Britam at 32 and the price went down so much within less than a year. I offloaded them at 25 after a year of anticipation of price surge without any success Problems can be very complicated, solutions cannot be.
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Rank: Elder Joined: 6/23/2009 Posts: 14,316 Location: nairobi
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nyakosh wrote:I once bought big quantity of Britam at 32 and the price went down so much within less than a year. I offloaded them at 25 after a year of anticipation of price surge without any success @nyakosh it happens to the best of us.. take heart and solace in the fact that it could have been worse COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 6/23/2009 Posts: 14,316 Location: nairobi
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nyakosh wrote:I once bought big quantity of Britam at 32 and the price went down so much within less than a year. I offloaded them at 25 after a year of anticipation of price surge without any success @nyakosh it happens to the best of us.. take heart and solace in the fact that it could have been worse COOP, IMH, KEGN, KQ, MTNU
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Rank: Elder Joined: 6/23/2009 Posts: 14,316 Location: nairobi
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nyakosh wrote:I once bought big quantity of Britam at 32 and the price went down so much within less than a year. I offloaded them at 25 after a year of anticipation of price surge without any success @nyakosh it happens to the best of us.. take heart and solace in the fact that it could have been worse COOP, IMH, KEGN, KQ, MTNU
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What was your worst mistake in trading.
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