I wrote in September that China Energy finally completed a reverse split to go private, and I expected that to be my last post about the company. But with every passing day since – without cash in my account – I started to wonder if I would actually get paid. With the shares suspended for trading you can’t do anything else than wait, and that finally paid off today.
Since starting this blog I haven’t had a single investment blow-up in my face, but this is not a sustainable track-record. It’s inevitable that some day I’ll buy something that will be a (near) zero, and that’s something that I try to keep in mind when I size my positions. Buying losers is part of the game: you just have to make sure that you aren’t betting the proverbial house. While it would of course have been unfortunate if China Energy would have been a zero it wouldn’t have blow a hole in my portfolio. It would just have shaved a couple percentage points off my return year to date.
This time really no position in CHGY anymore
wow I am glad that I exited the position at close to deal value
Yeah, sometimes my dislike of paying transaction fees to my broker comes around to bite me in the ass…