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….