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Author: eatnbybears Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3862  
Subject: The Great Chinese Dragon Date: 8/2/2006 12:49 PM
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I still hold my dumbest investment.

Oh, I made plenty of foolish ones in the late 90's, 2000, but when you are in the long line of "Rubes" that the Carnival Barkers has drawn together to see the three headed snake, the bearded lady and the sword swallower or the Pets.Com you just don't feel as dumb.

No, dumb is when you step in it all by yourself. Dumb is sitting down to play poker with four guys you don't know, but they all know each other, and you win the first five hands then play for big stakes. Dumb is buying a treasure map from a guy who makes his living selling shovels, mules and camping supplies.

Or in my case, dumb is for some reason thinking you could buy a small company stock in China years back and watch it grow.

"Once upon a time" there was a Chinese company listed on the Pinks. It, like all but the largest of Chinese companies was virtually unknown.

China is well known for it's stories of dragons that guard fortunes and other stories of fantasy, great wealth and reward.

One day, this Chinese company listed on the Pinks awakes and begins to breath fire !!

It's penny price increases and many peasants jump on its back and feed it, keeping it growing, the fire it breaths becomes brighter and more notice it.

The owners of the dragon write proclamations from China about the great deeds of the dragon and the many great plans of the dragon and they deliver them to the SEC for all to see.

They tell of all who come to visit the dragon, many names which would be recognized in both the USA and Europe. They tell of wonderful strategies being planed out in meetings in the back rooms of China's Palaces.

The Chinese company listed on the Pinks grows and breaths hotter fire, more peasants jump on its back and pour money in its mouth.

Suddenly, the Dragon flaps it's giant wings and flies to the AMEX and all of the peasants cheer and run after it !! (never remembering how many PK stocks of the 90's used the AMEX as temp parking)

Then, another proclamation comes from China.

It tells of how the Evil Princes of the Chinese Government have decided to inspect all dragons.

Dragons will not be allowed to fly until they are inspected, approved, permitted, licensed and re-released. The bad news is, the companies dragon needs a new cave, so they cant make any product until they build a all new cave, but it will be "state of the art" after they sell many, many millions of shares of the company stock.

So, at the bottom of my portfolio remains one loan stock. Luckily is was not that many shares, but it stays there as a reminder.

Purchase price $4.23

Today's Close $0.22

PK again.

Dumb, Dumb, Dumb .........

But kept as a reminder to how easy it is to believe in Dragons

Bears
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