Performance 
It’s with a heavy heart that today I write about my sale of West China Cement.
Our brief love affair – this time around, for we have loved before – began in July 2009 when I picked up 153 of these little grey beauties at £1.70. Watching our love take flight, two short weeks later I added another 221 shares at an already soaring £2.57. My 374 shares were averaged in at £2.21, for a total outlay of £828.21 before costs. Ahhh, the early days of a relationship.
At the dawn of our wonderful time together West China Cement surged through £3 before flitting around £4 for a spell. She then busted through £5, then £6 and briefly flirted with £7. What a beauty!
With a rendezvous with the Hong Kong board on the horizon, I was confident when we met, that her price would be heading in one direction, and one direction only. And WCC.L didn’t let me down. Could it be that I could be holding a five-bagger, hell, even a ten-bagger. Did this tryst have no bounds?
Then the dreaded ‘Dear John’ email from my broker. I’ll cut to the chase……..”we are unable to trade equities on the Hong Kong board”. Heartbreak!
Now it was at this time I had a decision to make. Transfer the shares to another broker – a broker that traded in Hong Kong securities, a broker alas, I did not have – and continue our fling or remember the beautiful times we had together and go searching for other AIM runaways.
I choose the later and I’ll tell you why.
It’s not everyday you land a triple-bagger in ten months – I sold out at £6.60 on the 4th May for a total return of £2,468.40, a profit of £1,640.19 on top of an £828.21 investment.
Moreover, the situation in Greece had kicked in and although I had faith that it would be resolved (patched up) quickly, confidence in the markets for weeks even months following is bound to be dented. A pound had already been knocked off WCC’s recent highs. And at the end of the day we had loved before and chances are we will love again.
Alfred Lord Tennyson put it best when he said, “it is better to have loved and lost than never to have loved at all“. And chances are he hadn’t just cashed in on a triple-bagger.
Now I’m off to open an account with a broker that allows me to trade in Hong Kong. Remember to do a ton of your own research and thanks again for dropping by.
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Comments
Posted On
May 13, 2010Posted By
Aloh dear.
Posted On
Jun 08, 2010Posted By
PaulCurrently trading around 490 pence so maybe having my hand forced on WCC not such a bad thing
Not to say I wont be jumping back into WCC in Hong Kong in the very near future as I’m in no doubt regarding their up-side potential.