by Anura Guruge
>> I bought Eros for the name
>> — Nov. 13, 2014.
>> IPO flipping restrictions — Sep. 23, 2013.
>> ETK called ‘FKU’ — Sep. 12, 2013.
>> No longer own Apple — Sep. 11, 2013.
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Oscar and I suffer from the same affliction, the ONLY thing that we have in common. Like Oscar ‘I too can resist everything but temptation’ (though I am getting better in my dotage). So, I bought a FEW shares of EROS when I was offered the chance to participate in the IPO.
For ‘3 months’ it did NOTHING other than sink like a delusional Indian trying to walk across the Adam’s Bridge thinking that they are the new Messiah. Given it is Indian run there is zero real news — other than that the Indian directors, classy as ever, smeared their OWN excrement on the IPO papers they signed. (See below.) What can I say. Indians are like that. Since I only had a negligible number of shares and I am fully resigned to always lose money I kind of wrote it off as yet another brilliant move on my part — though I bought this through temptation.
Well in the last couple of days it is going straight up, the chart doing the Viagra thing.
I can’t find any news as to why it is going up like that. Yes, given the Indian ownership there is probably a lot of unethical insider trading going on. Not sure what to do. Should I sell now. I will probably make about 50 cents, or should I hold on to see what mischief the Indians are bound to be up to. Yes, I am sure that within a few days it will plummet with the same trajectory of a used condom tossed off a Mumbai hotel room.
I don’t know what to do. Screw it. Might as well enjoy the ride, though mine is, of course, nowhere close to what the Indians get to experience.
I bailed. Couldn’t take. Better to take the 51 cent profit I had now than regret it later.
So I am out. Feel relieved. I think I will stick with U.S. and European stock.