Originally Posted by
blackcap
Shareholders too should not let emotion get in the way of a fair offer. If I have paid $1m for a house, the housing market crashes and now its valued at 500k. If someone came and offered me $600k I would be foolish not to take it. But since I paid $1m for it I would say no? Don't think so. Past price, what people paid for a stock etc, should have no bearing on anything in the future. Granted, I know a lot of people foolishly cannot sell a stock at a loss and would continue holding.
My father is a great example. I told him to get rid of SCY at 45 cents about 2 years ago. But he had paid 48 cents for them and he cannot sell at a loss. Luckily about 3 weeks ago he exited at 14 after 2 years of pressure and nagging from me. Past price is totally immaterial. All that matters is looking forward.