Originally Posted by
OldGuy
I got caught up in all the hype and hysteria towards the end of 2013, when Chris Swann was on record saying that they expected to complete "several tens of thousands of tests" in 2014. I ended up buying without doing my own research and entered near the top of its peak, only to sell out about a year ago at 40 cents.
After buying in, I started to do a lot of research on the company and its governance. Then, I attended a meeting with DD at the Ellereslie race course in Auckland (after which I warned others here that things were looking bad).
Not only was I really pissed off by the hype spun by Swann, but I was hit by the fact that DD had very little commercial nous/experience, particularly in the US market (which my own family successfully penetrated years ago). I also realised that DD knew very little about simple economic concepts like demand elasticity and that PEB's pricing strategy was largely arbitrary and unlikely to be optimal. Quite frankly I was shocked by just how bad the commercial side of the business was, and held on in the hope that they would succeed anyway. Fast forward to early this year, and became clear that it just wasnt going to happen. So, I exited and took the loss on the chin.
Lesson learned - DYOR!