Quote Originally Posted by percy View Post
You missed "Then I just kept adding to my/our holding on each positive announcement."
So brought from 3.5 cents up to 25 cents.
I would suggest you read the whole PAZ thread.

ps.The more research I do the luckier I become..lol.
What if the announcements were negative? That's why I said you got lucky and certainly not a method new investors should have 'hopes' on. I certainly wouldn't encourage it just like I don't encourage hope to those that buy lottery tickets under the basis of "You never know..." What if you were working with far larger sums like 6 or 7 figures in PAZ and at what impact would it have on it's liquidity?

I'm not saying you were wrong in your investment. I'm saying that to assume a statement "That's how millionaires are made" is completely wrong to the person wanting to get rich from share investing. I have very little experience trading "penny stocks" because the studies in finance i've done at school specify share prices that fall under this category come at different regulations and on all parts, do not meet 'listing requirements' on major stock exchanges (ie. NYSE & Nasdaq delists stocks that fall under $1/share if traded more than 30 day period). They're normally OTC types where their financial statements go unaudited and hence, why they say it's basically gambling instead of investing. So having said this, my explanation is all about liquidity and that's something the NZX doesn't have a lot of ; so it's a poor statement to imply people can make millions of the NZX (look at the behaviour? i've seen actions such as larger NZX companies like TWG issuing new shares to dilute existing share ownership or issue new shares to pay off loans just to prop up their balance sheet or pay dividends (what? issue new shares to pay dividends? isn't that like robbing Peter to pay Paul just so Paul wouldn't feel so bad that his share holdings got diluted a bit?).

I've been living in NZ for over 20 years, the locals that tell me about sharemarket investing tell me that it's a scam and they recall the days of the NZX crash in '86 and how so and so Brierly Investments scammed investors to how Hanover Finance scammed cash deposit investors... yet when they point me to the examples of buying real estate, they keep telling me "At least you can drive by and see it!" Maybe i'm in the wrong circle but i've found the subject of finance is not often talked about at dinner time table. It's rarely spoken about in detail on TV Morning News or on any time slot on NZ TV. Very different to the daytime TV I see in Canada where financial literacy is routinely talk about day and night.. and more so into the schools for children to learn. What is the NZ gov't doing about teaching financial literacy? Leaving it to Uni? Even then it's not taught much.

I won't comment on the attitude that "This is NZ and if you don't like it, you can move back".