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Have you ever failed flat in business?
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RichVee
#11 Posted : Thursday, September 08, 2016 12:37:57 PM
Rank: Member

Joined: 1/26/2010
Posts: 124
It is good to talk about the failures because when one is down, it feels like the end of the world. And whenever we read a story of a successful business, the failures are normally obscured, yet for many successful enterprises, there were major failures before the success.
Also to encourage the newbies in business.
I sprouted several grey hairs and did not need to go to the gym, the weight just fell off.
Tired of mediocrity. Am going to the very top!
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mulla
#12 Posted : Friday, September 09, 2016 6:19:30 PM
Rank: Member

Joined: 6/15/2013
Posts: 301
RichVee wrote:
It is good to talk about the failures because when one is down, it feels like the end of the world. And whenever we read a story of a successful business, the failures are normally obscured, yet for many successful enterprises, there were major failures before the success.
Also to encourage the newbies in business.
I sprouted several grey hairs and did not need to go to the gym, the weight just fell off.


@RichVee you have been vague...tell us details of the business you went into, what was wrong with regards location, why were your costs unmanageable etc This will help someone not make the same mistake
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Impunity
#13 Posted : Friday, September 09, 2016 6:57:36 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
Took a loan, 1M at 15% from Stanchat in 2007,bought Safaricom shares at 5 bob each during the IPO...got 190,000 shares.
I was looking to be a molti-millionaire in 5 years when the share price was widely expected to trade at 25 bob a piece!

Shock on my ass!!!

So came the 2008 PEV and the 2008-global financial crisis triggered by the US lenders.

I panicked and exited the counter in circa 2008/9 at 2 bob 10 cents.

Paid the 60 months loan non the less.

Today when I see safcom trading at 21 bob I feel a sharp pain in middle of my *sshole.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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sparkly
#14 Posted : Friday, September 09, 2016 7:51:16 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@impunity Laughing out loudly Laughing out loudly
Life is short. Live passionately.
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Lolest!
#15 Posted : Friday, September 09, 2016 7:57:36 PM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
Safcom IPO was in 08. Eaza lakini
Laughing out loudly smile Applause d'oh! Sad Drool Liar Shame on you Pray
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Baratang
#16 Posted : Friday, September 09, 2016 9:48:38 PM
Rank: Member

Joined: 10/6/2009
Posts: 587
Impunity wrote:
Took a loan, 1M at 15% from Stanchat in 2007,bought Safaricom shares at 5 bob each during the IPO...got 190,000 shares.
I was looking to be a molti-millionaire in 5 years when the share price was widely expected to trade at 25 bob a piece!

Shock on my ass!!!

So came the 2008 PEV and the 2008-global financial crisis triggered by the US lenders.

I panicked and exited the counter in circa 2008/9 at 2 bob 10 cents.

Paid the 60 months loan non the less.

Today when I see safcom trading at 21 bob I feel a sharp pain in middle of my *sshole.

Hapa tumedanganywo. Kwani Michael Joseph was your brother?
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streetwise
#17 Posted : Friday, September 09, 2016 11:08:33 PM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
Revise the figures. With 1m you can't have gotten 190k shares
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murchr
#18 Posted : Friday, September 09, 2016 11:09:35 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Baratang wrote:
Impunity wrote:
Took a loan, 1M at 15% from Stanchat in 2007,bought Safaricom shares at 5 bob each during the IPO...got 190,000 shares.
I was looking to be a molti-millionaire in 5 years when the share price was widely expected to trade at 25 bob a piece!

Shock on my ass!!!

So came the 2008 PEV and the 2008-global financial crisis triggered by the US lenders.

I panicked and exited the counter in circa 2008/9 at 2 bob 10 cents.

Paid the 60 months loan non the less.

Today when I see safcom trading at 21 bob I feel a sharp pain in middle of my *sshole.

Hapa tumedanganywo. Kwani Michael Joseph was your brother?


Why do you say that? @Impunity has never been shy about his love for Safcon.

Impunity #70 Posted : Friday, May 22, 2009 8:22:00 AM wrote:
When are they starting disbursing the much awaited 'earning' ?I want to spend my 5 dollars responsibly. :)

Which is more dirty,the pig or Kenyan mp?


Impunity #2 Posted : Thursday, July 16, 2009 6:43:00 AM wrote:
I will empty my 420 shares and forget that thing called NSE.

Which is more dirty,the pig or Kenyan mp?


Impunity=#49 Posted : Wednesday, November 06, 2013 6:34:22 AM wrote:
obiero wrote:
averaging down safaricom by huge purchases to kes 4.6 and eventually selling at kes 3.8 when it started taking a dive.. I should have held on coz fundamentals hadnt changed significantly. I panicked. That was my worst mistake


IPO safcon, got a meager amount; then dipped more at post IPO at 7.50...never cried internally like that.
Sold off during the economic depression at 3.50...massive loss...should have waited since the cash collected from the diposal is still lying at some gaaament bills..
Sad Sad Sad

"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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The Great
#19 Posted : Saturday, September 10, 2016 5:07:30 AM
Rank: Member

Joined: 9/9/2015
Posts: 233
Bad biz partner whose role was just sign papers... Forgery kibao. Now I have a loan to pay and money vanished from the 2 accounts. My headache is back.
"Buy when there's blood in the streets, even if the blood is your own."
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Impunity
#20 Posted : Saturday, September 10, 2016 9:12:42 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
streetwise wrote:
Revise the figures. With 1m you can't have gotten 190k shares


Because you imagine I had zero balance in my account at the time of taking the loan.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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