I have 4 in this stock, but I do have other gains that more than makes up for this. What I find upsetting is the way the management has run this company into the ground and they will get away with it. None of them will be held personally responsible for anything and they made millions.
I already had 13 years of write-offs from last year, and this investment makes another 37 years. Slightly off topic, COCO bought Heald for $375Million in 2010. My brain would not, could not, fathom COCO being worth what it is now. That is why I own 50,000 COCO shares at $1.53 and have basically lost everything. I believe what is being told to me is real, that assets are real. I'm the type of person who can be sold oceanfront property in Arizona. I also have this ridiculous belief that the SEC or the IRS or some agency would dispute a company balance sheet claiming so much in assets that are worthless. How is it that the goodwill and other intangibles passed tests every year? Because all of the powers that be do what they want to make things worth what they want for as long as they need them to. Little people like me take the bait. Now, D-Short says I play the victim. I am stating here that I'm an idiot for believing. So, I guess I'm also playing a victim of myself by recognizing that I'm exactly the kind of person that companies need to buy their stock, that shorts need to sell their stocks after extremely losses, etc. If it weren't for people like me, then people like D-Short couldn't make their millions. I am too optimistic about American companies, and am now inclined to think that I would make much more money if I believed that everything was doomed to fail. Of course, these are absolutes, which also don't make sense.