by Anura Guruge
>> I bought Eros for the name
>> — Nov. 13, 2014.
>> IPO flipping restrictions — Sep. 23, 2013.
>> ETK called ‘FKU’ — Sep. 12, 2013.
>> No longer own Apple — Sep. 11, 2013.
++++ Check category ‘Investments’ for more >>>>
Oscar and I suffer from the same affliction, the ONLY thing that we have in common. Like Oscar ‘I too can resist everything but temptation’ (though I am getting better in my dotage). So, I bought a FEW shares of EROS when I was offered the chance to participate in the IPO.
For ‘3 months’ it did NOTHING other than sink like a delusional Indian trying to walk across the Adam’s Bridge thinking that they are the new Messiah. Given it is Indian run there is zero real news — other than that the Indian directors, classy as ever, smeared their OWN excrement on the IPO papers they signed. (See below.) What can I say. Indians are like that. Since I only had a negligible number of shares and I am fully resigned to always lose money I kind of wrote it off as yet another brilliant move on my part — though I bought this through temptation.
Well in the last couple of days it is going straight up, the chart doing the Viagra thing.
I can’t find any news as to why it is going up like that. Yes, given the Indian ownership there is probably a lot of unethical insider trading going on. Not sure what to do. Should I sell now. I will probably make about 50 cents, or should I hold on to see what mischief the Indians are bound to be up to. Yes, I am sure that within a few days it will plummet with the same trajectory of a used condom tossed off a Mumbai hotel room.
I don’t know what to do. Screw it. Might as well enjoy the ride, though mine is, of course, nowhere close to what the Indians get to experience.
I bailed. Couldn’t take. Better to take the 51 cent profit I had now than regret it later.
So I am out. Feel relieved. I think I will stick with U.S. and European stock.
.by Anura Guruge
Though, thankfully, I differ from Oscar when it comes to very important things, like him, I too can resist everything but temptation (though I am getting better).
So when Fidelity told me that I can bid on the Eros IPO — I couldn’t resist. I had money burning a hole in my account since, of course, I didn’t get any Twitter IPO shares. I knew, given my near destitution, that this would be the case.
BUT, of course, I got the Eros stock because there appeared to be NO demand for them. Shares are already down — which is what always happens with IPO stock that I get! Thanks, Fidelity.
The premise is good. Bollywood. If this household is anything to go by the demand for Bollywood has to grow in time — though it might not in my lifetime. That Deanna and the two kids love Bollywood movies and music cracks me up. With my SkyBox TV we can get unlimited Bollywood media though of late the box is used only for TEN Cricket.