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Started By
Message
re: What has been your worst investment?
Posted on 12/1/23 at 8:19 pm to Gordonramsme
Posted on 12/1/23 at 8:19 pm to Gordonramsme
I do not unfortantely
0
Posted on 12/2/23 at 6:54 am to I Love Bama
BABA
Thought it was going to be another Amazon.
Thought it was going to be another Amazon.
Posted on 12/2/23 at 8:07 am to kaaj24
ARKK- I bought into the hype. Bought at $132 in March 2021. I also bought it within an IRA so I can’t tax loss harvest. Bag holder for now. I was only 1.5% of my portfolio so not a life changing mistake. Oh well, live and learn.
Posted on 12/2/23 at 10:15 am to I Love Bama
I lost $20k on the battery company A123/AONE.
One day somebody is going to get filthy rich with batteries. That company fooled me.
One day somebody is going to get filthy rich with batteries. That company fooled me.
Posted on 12/3/23 at 4:29 pm to KWL85
I am still in it.....$RGS ( Regis Hair, Supercuts, etc) got decimated during Covid.....figured this would be a good rebound. Kept averaging down, down down....I was in at $1.95 a share and it fell to .35. Just had a 20-1 reverse split. Will probabaly do an offering soon an dilute the current low float. Probabaly gonna sell some off before end of year for tax harvest....
Posted on 12/3/23 at 7:14 pm to I Love Bama
Most definitely Voyager.
This post was edited on 12/3/23 at 7:16 pm
Posted on 12/3/23 at 7:34 pm to 98eagle
quote:
Most definitely Voyager.
Mother fricking this. I had $25k in the stock and lost another $100k+ when they locked everyone out of the app. I did get 35% of the crypto back in the bankruptcy settlement and am hoping they continue to get more funds to us.
Posted on 12/3/23 at 8:16 pm to jfw3535
AT got me too. I’m still holding that dog shite he was pumping. Waiting till the end of the year to dump it.
And Workhorse.
And Workhorse.
Posted on 12/5/23 at 6:46 am to 7even Costanza
Chesapeake Energy
Posted on 12/5/23 at 7:08 am to kaaj24
quote:
BABA
Thought it was going to be another Amazon.
same with shitty COUPANG (CPNG) stock in south korea. thing has done nothing but tank since the IPO. 50 dollar IPO and now is hovering around 15. luckily i did not buy much.
Posted on 12/5/23 at 8:04 am to Drizzt
quote:
I put $10,000 into a brewery start up. Thought who could lose money selling beer?
A few years back I got into brewing quite a lot for a home brewing setup. I could brew 60 gallons in a day (ferment in 2 week). I'm in Texas and Texas is one of the shittiest states to open a brewery. I was able to sell the beer any time I made it when I didn't have tap space at the house. But with the laws in Texas, your margins are basically set for you and it's almost impossible to grow your margins. Only way to grow profit is through increasing volume. But that was one business I was very close to opening. I've seen breweries succeed with crap beer. I'd still like to give it a shot but it seems like the craft beer market has receeded some and I don't have the appetite for that risk at the moment. Also, it seems like if you want to have any real shot at succeeding, you need at least $750k-$1m to get your volume to a size that is comfortably profitable.
Posted on 12/5/23 at 10:05 am to WhiskeyThrottle
I work in the craft beverage industry. I own a small producer in Tampa. It’s been a wild, wild ride.
I consider myself truly fortunate to have had the success we’ve had. There certainly was a golden era circa 2015-20’ where some folks made a lot of money. I never imagined it would make us millionaires; alas, it did and I’m extremely grateful for that.
That era has long since passed. Lots of moving pieces; but, market saturation, craft losing its novelty, the toxicity of a part of the craft consumer base running off the normal functioning adults, covid changing people’s drinking habits (they stay home and drink instead of going out), young people drinking less, inflation driving up prices, etc all played in.
The industry is in sharp decline. Some markets have taken it worse than others. ATL has lost 14 breweries this year. San Diego almost 50. We are actually planning to exit ourselves.
Sure; there are some still printing cash. They’ve built robust brands and usually find themselves in densely populated metros or in States where they enjoy minimal competition because its laws make it difficult for others to ship product and sell in the State. Those are few and far between. The average brewery owner is making an honest living; but, I’d say less than 10% make a six digit salary. Most have seen their earnings drop sharply in the past 2 years.
The biggest lesson I’ve learned is that the vast majority of people don’t give a shite about quality. It’s the reason that places like Applebee’s exist.
To your point about succeeding with crap beer; it’s absolutely true. To that end; opening a place with better beer doesn’t necessarily mean it will fare better. It’s actually been the hardest part for me; watching really skilled brewers go under while the inferior product carries on.
I consider myself truly fortunate to have had the success we’ve had. There certainly was a golden era circa 2015-20’ where some folks made a lot of money. I never imagined it would make us millionaires; alas, it did and I’m extremely grateful for that.
That era has long since passed. Lots of moving pieces; but, market saturation, craft losing its novelty, the toxicity of a part of the craft consumer base running off the normal functioning adults, covid changing people’s drinking habits (they stay home and drink instead of going out), young people drinking less, inflation driving up prices, etc all played in.
The industry is in sharp decline. Some markets have taken it worse than others. ATL has lost 14 breweries this year. San Diego almost 50. We are actually planning to exit ourselves.
Sure; there are some still printing cash. They’ve built robust brands and usually find themselves in densely populated metros or in States where they enjoy minimal competition because its laws make it difficult for others to ship product and sell in the State. Those are few and far between. The average brewery owner is making an honest living; but, I’d say less than 10% make a six digit salary. Most have seen their earnings drop sharply in the past 2 years.
The biggest lesson I’ve learned is that the vast majority of people don’t give a shite about quality. It’s the reason that places like Applebee’s exist.
To your point about succeeding with crap beer; it’s absolutely true. To that end; opening a place with better beer doesn’t necessarily mean it will fare better. It’s actually been the hardest part for me; watching really skilled brewers go under while the inferior product carries on.
This post was edited on 12/5/23 at 10:11 am
Posted on 12/5/23 at 2:45 pm to I Love Bama
Purchased a condo in slidell for my wife to work in the slidell area. Purchased it for 114k in 2009, selling it for $70k in 2023.
We turned it into rental income in 2012.
I’m tired of dealing with the piss poor HOA
We turned it into rental income in 2012.
I’m tired of dealing with the piss poor HOA
Posted on 12/5/23 at 2:59 pm to wiltznucs
ARKK. Ive had some penny stock/shite coin L’s but I expect those to flop.
This post was edited on 12/5/23 at 3:01 pm
Posted on 12/5/23 at 3:44 pm to I Love Bama
I had shares into the Organ Donor transport company, TMDX ,but got in too high. In the 30's. Jonah Lupton used to pimp this stock and he is known for selling his bags.
It fell to about 13 and then I got what I could out. It later fell to 10. It bottomed there and then ended up going to 99.
I sold for a loss just for it to do that.
It fell to about 13 and then I got what I could out. It later fell to 10. It bottomed there and then ended up going to 99.
I sold for a loss just for it to do that.
Posted on 12/5/23 at 5:37 pm to I Love Bama
401k…in general
Posted on 12/6/23 at 3:57 pm to BLM
Tellurian LNG stock thinking Europe would be needing alternative LNG sources after Russia's invasion. Bought at around $2.75 and its now at .56
Posted on 12/6/23 at 5:16 pm to I Love Bama
United Companies.
Posted on 12/6/23 at 6:36 pm to jamiegla1
quote:
SLI
I don't understand why so many are bag holders on this. My cost basis was $2.12 and when it went up in the 12's I thought to myself this thing breaks downward into the high 11's I am out and was exactly what I did and made significant profit close to $50k in a taxable account which was tax free due to loss carry forwards.
Posted on 12/6/23 at 7:30 pm to tirebiter
Let me explain, we didn’t make money because we’re not disciplined. Hope that clears it up.
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