Investing in Anonymous Companies

[binderclip]

Does anyone have any stories to share about investing in anonymous companies via the forum? I've bought shares on cryptostocks (and been burned once) but not here. How was your experience, was the project as advertised? Were you able to cash out?
Thanks

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[Stuartuk]

Lots of scams, lots of lost coins, lots of delays, lots of frozen shares. Only invest what you can afford to lose.

[saif92]

I have in my starting days here on this forum and I also badly burnt out now I never have any company's share just have some investment in just-dice and its also in lost right now

[OgNasty]

It's a shame how bad due diligence led to an entire group being described as "worth exactly nothing."

There are a few needles in that haystack.

[binderclip]

Thanks for your responses and advice. I've had some good results from cryptostocks investments but I'm not risking much on that site.

[NotLambchop]

It's a shame how bad due diligence led to an entire group being described as "worth exactly nothing."

There are a few needles in that haystack.

To be fair, there are a few buttraping rabid elephants in that haystack too.
Along with all of those dirty needles.

@binderclip:  What's meant by "do your due diligence" in this instance is something along the lines of "if you spend your whole life digging through pigshit, there's a chance you will find a pearl."  But a much better chance that you'll catch something really unpleasant and resistant to antibiotics.

[OgNasty]

It's a shame how bad due diligence led to an entire group being described as "worth exactly nothing."

There are a few needles in that haystack.

To be fair, there are a few buttraping rabid elephants in that haystack too.
Along with all of those dirty needles.

Luckily, for those willing to do their due diligence, it is easy to spot the difference between a needle and a "buttraping rabid elephant."

[NotLambchop]

But not before getting buttraped.  
The talk about "due diligence" is just talk -- the whole thing breaks at the weakest link, like a trusted exchange folding and *poof*, so much for due diligence.
Which shitty stock have you got to sell?

[binderclip]

@binderclip:  What's meant by "do your due diligence" in this instance is something along the lines of "if you spend your whole life digging through pigshit, there's a chance you will find a pearl."  But a much better chance that you'll catch something really unpleasant and resistant to antibiotics.

Yeah it's hard to do due diligence because the best case scenario is the project has a website. How much can you really know from that? Only a totally obvious scam, really.

[OgNasty]

But not before getting buttraped.  
The talk about "due diligence" is just talk -- the whole thing breaks at the weakest link, like a trusted exchange folding and *poof*, so much for due diligence.
Which shitty stock have you got to sell?

Due diligence is not just talk.  It's a requirement before investing unless you want to be raped. If the exchange is the weakest link, then use decentralized exchanges.  I have no interest in selling you anything, nor do I need to.  I'm simply tired of kids throwing money at users who haven't proven themselves with no due diligence and then bitching at the system because they lost their money.  Take some personal responsibility for your actions.  Without due diligence you will be raped investing on Wall St as well.  There are always sharks in the water regardless of which ocean you swim in.  Learn to look before you leap.

Yeah it's hard to do due diligence

Of course it's hard.  If it were easy we would all have Warren Buffett's bank account...

[NotLambchop]

But not before getting buttraped.  
The talk about "due diligence" is just talk -- the whole thing breaks at the weakest link, like a trusted exchange folding and *poof*, so much for due diligence.
Which shitty stock have you got to sell?

Due diligence is not just talk.  It's a requirement before investing unless you want to be raped. If the exchange is the weakest link, then use decentralized exchanges.

Err, which decentralized exchange would you suggest, while we're on the subject?  <==This is typical of the "due diligence" bullshit.
Sure, due diligence is essential, but with the current state of bitcoin securities, the only thing it tells me is "walk in an orderly fashion towards the exit and don't start laughing 'till you're out of earshot." 

[binderclip]

Yeah it's hard to do due diligence

Of course it's hard.  If it were easy we would all have Warren Buffett's bank account...

What I mean is that there's no public information to analyze - a website if you're lucky. There's no financial records to pore over like balance sheets, earnings reports, etc.
Due diligence is a lot of work but in these cases it's hard to even attempt it.

[OgNasty]

Yeah it's hard to do due diligence

Of course it's hard.  If it were easy we would all have Warren Buffett's bank account...

What I mean is that there's no public information to analyze - a website if you're lucky. There's no financial records to pore over like balance sheets, earnings reports, etc.
Due diligence is a lot of work but in these cases it's hard to even attempt it.

If there is no information or transparency, do not invest your money.  Here's some advice I was told when I first started trading securities...  There is one fool in every trade.  No shame in being the fool if you know you are the fool and accept the trade anyway because it brings you closer to whatever goal you have.  Blindly entering a trade having no idea who the fool is will lose you money every time.

[binderclip]

Yeah it's hard to do due diligence

Of course it's hard.  If it were easy we would all have Warren Buffett's bank account...

What I mean is that there's no public information to analyze - a website if you're lucky. There's no financial records to pore over like balance sheets, earnings reports, etc.
Due diligence is a lot of work but in these cases it's hard to even attempt it.

If there is no information or transparency, do not invest your money.  Here's some advice I was told when I first started trading securities...  There is one fool in every trade.  No shame in being the fool if you know you are the fool and accept the trade anyway because it brings you closer to whatever goal you have.  Blindly entering a trade having no idea who the fool is will lose you money every time.

I agree. I trade securities as well, largely self taught. When I was starting out and having trouble I would read books on trading and investing for information and inspiration. In one of the Market Wizards books one of the traders says something like 'people get what they want out of their trades. Some people enter trades knowing they'll lose because they're actually seeking that feeling of losing for whatever reason.'