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Aurcana Corporation Message Board

fatfighter59 11 posts  |  Last Activity: Nov 11, 2014 1:40 PM Member since: Nov 4, 2010
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  • Reply to

    Broker Fees

    by fatfighter59 Nov 10, 2014 3:45 PM
    fatfighter59 fatfighter59 Nov 11, 2014 1:40 PM Flag

    Oh I did read the Warren Buffet Way and a couple of other books.

  • Reply to

    Broker Fees

    by fatfighter59 Nov 10, 2014 3:45 PM
    fatfighter59 fatfighter59 Nov 11, 2014 1:38 PM Flag

    Good advice I'm sure although I don't know why PSEC is not a good long term investment. However since I am 71 years old and retired, it isn't exactly tailored to my situation. I had hoped to have a nice little (really little) portfolio to leave to my granddaughter that would increase in time. She won't put a dime into the account I manage for her because she doesn't believe in gambling and after my record, I can't fault her for that. Common sense is anything but common.

  • Reply to

    Broker Fees

    by fatfighter59 Nov 10, 2014 3:45 PM
    fatfighter59 fatfighter59 Nov 10, 2014 6:06 PM Flag

    Thanks for understanding and kind words.

  • Reply to

    Broker Fees

    by fatfighter59 Nov 10, 2014 3:45 PM
    fatfighter59 fatfighter59 Nov 10, 2014 6:05 PM Flag

    Thanks for kind words. Wish I had done well like you did. Oh well, timing means much. I think maybe I will do what you do. :)

  • Reply to

    Spinoff will create SHAREHOLDER VALUE

    by jmkdog Nov 6, 2014 7:24 PM
    fatfighter59 fatfighter59 Nov 10, 2014 5:22 PM Flag

    O.K. so PSEC will be "losing" some great assets by selling them as spin offs. The original shares should then be worth less (by the amount of the worth of those spun off assets minus any monies received by the sale). Then stockholders will have to pay again for the assets they had already purchased when they invested in PSEC (if they want them without the guaranteed dividend %) and the dividends will have to come from a smaller base. Have I got this right?

  • Reply to

    Broker Fees

    by fatfighter59 Nov 10, 2014 3:45 PM
    fatfighter59 fatfighter59 Nov 10, 2014 5:04 PM Flag

    I decided to call Scottrade and ask them and they said they didn't charge those fees the companies that did the reverse split did. So not only did they kill me with the RS, they charged me $20 extra to do it. Well, see if I ever buy another gold mining stock! What's a gold mine ? - a hole in the ground with a liar at the bottom. I was surprised because they sold the idea as a way to bring up the pps and obviously I was (am?) dumb enough to believe it. And yes I am new to investing and not rich at all, just dumb enough to hope to get closer to rich by investing (perhaps its more like gambling). It did keep me out of the casinos for quite awhile. There is nothing "not right" about this post, just not right about me, I guess. Although only actually 50 shares, it still is most of the investment money I have left, so maybe devastation is too strong a word. It did feel pretty devastating when I saw I had one share I paid $299 for selling for $2.54 (etc.). Anyway now I know it wasn't Scottrade. Yes I am still worried about the announcement, I guess just a gut reaction from the past experience and not knowing what to expect. I have wondered why the price of this stock didn't go up and all I could come up with was that people were suspicious that it was "too good to be true". I told my elderly neighbor about it when she was telling me how her savings were going fast because of the interest rates being so low. I don't know if she bought or not. Anyway, Minnyfan, you got me to spill my guts and air my dirty laundry. And you were correct, something wasn't right.

  • fatfighter59 by fatfighter59 Nov 10, 2014 3:45 PM Flag

    I was unwise enough to buy some gold mining stocks a couple of years ago. Management didn't like their pps so they had a reverse split (yes, all of them). Two were 1 for 10 and one was 1 for 8. The price not only didn't go up but fell. I lost 99.? % on those but on top of that Scottrade charged me $20 each for reorganization fee. I only have 40 shares of PSEC (my only pick that wasn't devastated so far) - I was thinking of buying more until this announcement and now I am seriously worried. The pps has already decreased some but that was o.k. but I just don't know if I can stand more devastation and more reorganization fees.

  • Reply to

    I still dont understand

    by frigator Nov 7, 2014 2:52 PM
    fatfighter59 fatfighter59 Nov 10, 2014 3:33 PM Flag

    Buy them with what?

  • Reply to

    Clarifying the "Spinoff"

    by electricquadalt Nov 10, 2014 1:41 PM
    fatfighter59 fatfighter59 Nov 10, 2014 2:56 PM Flag

    So this is about what I came here to try to learn. Unfortunately, this doesn't clarify anything for me. Can anyone tell me in plain English what is being planned and how it will affect the share price or the shareholder?

  • fatfighter59 fatfighter59 Oct 25, 2014 6:54 PM Flag

    I suggest you google Mr. Drover and decide for yourself. I can't remember now what I came across but I do remember I didn't think it was good.

  • It seems like a great deal to me. So what is keeping it from advancing? Is it that it seems too good to be true or is there something more substantive?

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