The dreaded BOI share nightmare!

gaafan1

Hi all. Let me first start off by admiring all of ye're posts in the last couple of months on investments and markets. After logging on to this page there are obviosly some very wise and responsible people but I'm afraid there are some very naive and inexperienced people present here.There are people who are just taking chances the whole time and on the back of some success, they are investing foolishly into companies on the basis of non financial basis.

I must admit, I was very foolish, I am 24 years of age, I was caught up with the whole buzz of the celtic tiger and watching my friends invest and get on the property ladder. I FELT I SHOULD DO THE SAME. Lucky enough I didn't purchase a house but I did however enter onto the stock market. I knew nothing about it in the slightest. I bought €13000 of BOI shares between €9-€12. I was sick when the market declined. I began to see the light. I couldn't bare to look at Davy or the business sections of newspapers.

I began to cop on and to try limit my loss I thought I'd have another stab at things. I bought €2000 of BOI at €1.30. In order to 'break even' on my initial investment I need BOI to go to €5.40.

Should I just sell shortly and loose €6000 or should I just try to invest small amounts on 'safer' companies?


Am I the only complete fool out there?

pocketdooz

gaafan1 wrote: »

Hi all. Let me first start off by admiring all of ye're posts in the last couple of months on investments and markets. After logging on to this page there are obviosly some very wise and responsible people but I'm afraid there are some very naive and inexperienced people present here.There are people who are just taking chances the whole time and on the back of some success, they are investing foolishly into companies on the basis of non financial basis.

I must admit, I was very foolish, I am 24 years of age, I was caught up with the whole buzz of the celtic tiger and watching my friends invest and get on the property ladder. I FELT I SHOULD DO THE SAME. Lucky enough I didn't purchase a house but I did however enter onto the stock market. I knew nothing about it in the slightest. I bought €13000 of BOI shares between €9-€12. I was sick when the market declined. I began to see the light. I couldn't bare to look at Davy or the business sections of newspapers.

I began to cop on and to try limit my loss I thought I'd have another stab at things. I bought €2000 of BOI at €1.30. In order to 'break even' on my initial investment I need BOI to go to €5.40.

Should I just sell shortly and loose €6000 or should I just try to invest small amounts on 'safer' companies?


Am I the only complete fool out there?

Where is the part where you have copped on? So you bought BOI at 9-12, not having a clue about it. Then you bought when the bank was on the verge of nationalisation, still not having a clue about it. You have since got lucky.

The best thing you can do is pick up a few books and learn a little bit about investing.

.

lucky-colm

gaafan1 wrote: »

Hi all.

Am I the only complete fool out there?

valid question

YES!

pocketdooz

lucky-colm wrote: »

YES!

NO

There are tons of them out there. Just read through the Anglo, BOI and AIB threads . . . .

.

Onikage

Not a fool, and certainly not the only one. Naive maybe.

Buying in at €1.30 would have been in May, right? Not the worst time to buy, but if you think it'll go up to €5.40 I'd have you ask yourself what's the basis for that? I would sell now, then do as pocketdooz said and invest in some decent books.

And don't make decisions based on what others do. You're only a fool if you don't learn from your mistakes.

pjproby

reading the replies, which seem self righteous to me, its hard to believe that the world and his mother lost their shirt on equities in the last two years.
with something approaching normality in equity trading returning, is there anyone out there who actually knows what the future holds.
there are those who know, those who don't know etc etc etc

pog it

If I was you I'd sell now the shares you have made money on and rather than taking a 66% loss which may as well be 100%, grind your teeth and hold out longer on the rest.
Like others have said I would study and research- I've only dipped my toes in lightly and I've been watching things over the past year really, and I've a lot to learn on basic economic facts even that you need to understand to properly invest, for example do you understand inflation/deflation outside of the very basic we all know about it?

Just make sure you've learned your lesson! Losing 10k or so isn't the end of the world. esp. when you are 24, it should motivate you to read up on this stuff.

Also look beyond Irish shares. Even if things keep were to continue on the up for BOI there are better companies out there to invest in! Desmond got out, and maybe he knows more than we do. The story goes that he sold out cause he wanted to be free to comment as he liked on what was going on in the banks. Why do you want to invest in BOI after the wreckage they have contributed to? Would you not prefer to invest in a company that are doing something good for example?

Diarmuid

pjproby wrote: »

reading the replies, which seem self righteous to me, its hard to believe that the world and his mother lost their shirt on equities in the last two years.

If you'd invested in a simple S&P500 index you would have lost 23% + been paid a few dividends. It's still a lot of money but hardly your shirt.

To the OP I would suggest that you take it as a tough lesson and learn from it.

lucky-colm

LEARN DAMN YOU!!!

homersimpsongg3.jpg