Its been long time that I did not thought on Investment and insurance option. Want to make profit out Of Satyam Shares Investment Loss. Everybody is aware of recent Satyam fiasco. I got badly stung and I would like to share my experience so that others can avoid making similar mistakes.
The day Ramalingam Raju resigned, I saw the share price of Satyam tumble from Rs 180 to Rs 90 in a matter of minutes. Now that by itself cannot be a valid reason for the share price to tumble. I became greedy and bought 2000 shares of Satyam @ Rs 90.
Later on in the same day, I learnt that he confessed to committing a series of frauds !!! Now that is something serious. If the profits had been manipulated to the extent of Rs 7,000 Crores over several years, then the real value of the Satyam share should be Rs 10.
Justifiably, the share price of Satyam fell to Rs 10 (or actually to Rs 6.50 also) the very next day and is fluctuating between Rs 20 to Rs 38.
I lost a great deal of mooney in the process. How does one come out of the messy siutation?
The only solution is to sell some shares of Satyam at every rise and buy them back at a lower price. Even if I sell 500 shares every day and buy back at a profit of Rs 2 after deducting all expenses, I make a profit of Rs 1,000 per day. I may not be lucky enough to do it every day so it may take a year to come out of the mess.
The moral of the story: Do not buy shares of any Company based on partial news. Do a complete due diligence and then invest wisely.Number of View :1065
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