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Old 08-14-2018, 07:18 PM   #2242
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Originally Posted by Hammock Parties View Post
I bought it at 41.52, thinking I had picked it up on a reasonable downswing after it fell from the high of 46.23.

So at least I didn't lose as much of my ass as I could have.

From what I just read though, the long-term outlook is still very strong and the drop is just china's market being shit right now.

Either way this is probably the last foreign stock I buy. They're way too volatile.
I don't have a problem with foreign stocks in general, but I do avoid stocks in controlled economies. I'm hardly an expert at it, but I feel like there aren't enough controls to be sure that stuff is being reported accurately and that there aren't insiders manipulating the process. I've stayed completely out of China and have no plans to buy anything there. I don't know if that's a problem here, and obviously a lot of people have made money in China, but I just don't trust their system at this point.

If it makes you feel better, I've lost 90+ percent on a stock before. JDSU haunts me. I think I first bought it around 120 and sold it at around 3 or some such thing. And it was not a small holding, either, because I kept buying as it went down.

https://en.wikipedia.org/wiki/JDSU#Stock

During the 1990s, JDS Uniphase stock was a high-flyer tech stock investor favorite. Its stock price doubled three times and three stock splits of 2:1 occurred roughly every 90 days during the last half of 1999 through early 2000, making millionaires of many employees who were stock option holders, and further enabling JDS Uniphase to go on an acquisition and merger binge. After the telecom downturn, JDS Uniphase announced in late July 2001 the largest (up to then) write-down of goodwill. Employment soon dropped as part of the Global Realignment Program from nearly 29,000 to approximately 5,300, many of its factories and facilities were closed around the world, and the stock price dropped from $153 per share to less than $2 per share.
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