Originally Posted by
pierre
I bought about 50% of my current holding in 2012/2013, bought more in a CR late 2019 at 10 cents (a real act of faith) and topped up again with a substantial purchase in July this year at 56 cents - my average cost is 59 cents.
My interest in PEB started from comments on ST by a few enthusiasts. I would never have known about the company otherwise and certainly it wasn't on the radar of any broker at that time. I thought the product(s) they were developing (based on research out of Otago university) was a great service to humanity and not only did the company deserve support but also it had potential to be either a substantial money maker or a target for an attractive takeover bid at some future point (and still is!). (I was also a supporter of BLT - also spun out of Otago U. It's been a similar ride to PEB - but that's another story.) It was definitely a speculative investment and I've always reserved about 5-10% of my investment funds for that purpose. So far I haven't lost any - on paper anyway.
The PEB price soared at one point up to about $1.70 following comments from the chairman. The wise traders sold out at that time but that's not my investment philosophy so I hung on. The chair's comments subsequently proved to be unfounded and resulted in a great amount of vitriol from one poster who relentlessly rubbished both the chairman and the company on ST. That wasn't a confidence booster and sorely tested my resolve to remain onboard.
From then on it was a gut-wrenching roller coaster ride as the SP rocked and rolled over the years and the company regularly raised more cash as anticipated developments in the US were delayed. It wasn't fun watching the SP plummet dramatically early this year - but all is right with the world once again as the price now closes in on $1.00.
I'm not saying my approach to investing is any better than anyone else's - but overall it has served me well and made me a great deal of money.
I guess I'd sum it up by saying it's about having faith to buy into a business in the first place - and if the faith remains - to have the patience to hang on through the ups and downs till the company finally succeeds. Just like life really.