Toxic Assets – Don’t believe the hype….Dumping it!

Always good to just write a short blog post!

High End Minerals are taking a beating and have been taking a beating since Jita Burn and its aftermath and all the mass market manipulation of epic proportion by speculators and all the scheming folks out in Null sec, you know who you are! I call anything that’s Zydrine, Megacyte, Morphite, Nocxium all Exotic High End Minerals.

Bought several Billions worth of it about 2-3 weeks ago as Investment Trade to re-sell at a bit higher prices. Allot more than I usually buy for just trading in my regional market to help supply the needy in my region and make a profit. Plus if I never sell it all I can usually roll it onto my T2 production line.

Anyway with Exotic High End Mineral prices sinking like a rock as many others cash out behind the scene’s I decided I’m not in love with my position. I usually have a lot of patience, but with all the manipulation that’s been going on I have no love for any of it and just DUMPED IT. I took about a 1.5 to 2 Billion ISK loss.

It’s no big deal, but it’s still a loss and the absolute worst investment I ever made in a huge position. At least I didn’t lose my shirt and loose over 30 Billion in investable assets. That’s why you never bet all your money on any one thing in the market. I can make up 2 Billion ISK in losses somewhere else.

Now if only I had placed all that same amount of money and just kept buying Helium Isotopes like I was buying since beginning of year that would have been vastly different outcome. If I had done that I would have made several Billions in ISK over that same time period instead of buying into the Hype of High End Minerals that was mass market manipulated.

There is a lesson in there. You learn allot in EVE from feedback when things don’t always work out.

So i’m now buying way short on Buy Order at bottom prices….

 

 

 

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8 comments

  • Oh well. Still not as bad as me buying a monocle when they got introduced expecting there’d be a heavy demand for Noble Exchange gear on the isk markets…

    • EVE can be quite unpredictable trying to predict the future in your case the Monocle.

  • Ouch. You would not be the only person caught out.

    • I know for sure they are many others with really huge losses on those minerals, worst if they had bet it all in the same basket.

  • Uhh, it’s kinda early to be cashing out isn’t it? There will be quite a lot of drainage as speculators cash out and stockpiles reduce, but the underlying principles calling for a tighter mineral market do continue to make sense.

    FWIW, I think there will be a long-term price increase in minerals and that will survive the rapid upswing in price caused by speculation and the rapid decline caused by panic sells of short-term stockpilers.

    • Not waiting around to be left holding a bag of goods as the market sink below it. I figured a long time ago not to ever be in love with anything I trade and be willing to dump it all if need be to minimize my risk.

      I can always buy back at bottom prices and just quickly trade minerals for a little bit of profit at a time vs holding on to it for a long time expecting it to go way up.

  • Serpentine Logic

    As I said – Technetium had three years’ stockpile; don’t expect mineral stockpiles in highsec to be any smaller.

  • Yeah learning people stockpile all sort of things.

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