[/caption]
I knew about Chartered semi conductors's delisting procedure since last year, when it was splashed across the newspaper. I did not think much of it until this week, where I learned that my parents actually had 1 lot of it bought @ 14? Why the question mark? It's because they did not know how much they had bought it since it was so long ago.
Since Sept 09, they had a lot of corporate activities. First a 27 rights for every 10 shares held. Then immediately after the rights, a share consolidation where every 10 shares will be reduced to 1 share. I just know that after all the activities, the initial 1000 shares turned into 300 shares (I do not know how come, but since my parent's can't be bothered, I'm also not bothered. Anyway, too late to do anything now). Finally, there is a cash offer to delist it at $2.66 per share.
The key point here is that an investment of $14k turned into $800. It's just plain negligence if you asked me.
The lessons are:
1. The market is not your mother. She is not here to give you milk but is here to milk you if you're not capable of it. Read more...[caption id="attachment_2517" align="alignright" width="150" caption="Photo by brendan.lally"][/caption]
I knew about Chartered semi conductors's delisting procedure since last year, when it was splashed across the newspaper. I did not think much of it until this week, where I learned that my parents actually had 1 lot of it bought @ 14? Why the question mark? It's because they did not know how much they had bought it since it was so long ago.
Since Sept 09, they had a lot of corporate activities. First a 27 rights for every 10 shares held. Then immediately after the rights, a share consolidation where every 10 shares will be reduced to 1 share. I just know that after all the activities, the initial 1000 shares turned into 300 shares (I do not know how come, but since my parent's can't be bothered, I'm also not bothered. Anyway, too late to do anything now). Finally, there is a cash offer to delist it at $2.66 per share.
The key point here is that an investment of $14k turned into $800. It's just plain negligence if you asked me.
The lessons are:
1. The market is not your mother. She is not here to give you milk but is here to milk you if you're not capable of it. Read more...
[/caption]
I knew about Chartered semi conductors's delisting procedure since last year, when it was splashed across the newspaper. I did not think much of it until this week, where I learned that my parents actually had 1 lot of it bought @ 14? Why the question mark? It's because they did not know how much they had bought it since it was so long ago.
Since Sept 09, they had a lot of corporate activities. First a 27 rights for every 10 shares held. Then immediately after the rights, a share consolidation where every 10 shares will be reduced to 1 share. I just know that after all the activities, the initial 1000 shares turned into 300 shares (I do not know how come, but since my parent's can't be bothered, I'm also not bothered. Anyway, too late to do anything now). Finally, there is a cash offer to delist it at $2.66 per share.
The key point here is that an investment of $14k turned into $800. It's just plain negligence if you asked me.
The lessons are:
1. The market is not your mother. She is not here to give you milk but is here to milk you if you're not capable of it. Read more...
