When you have a stock whose name sounds like the San Andreas Fault, I guess it’s only a matter of time before it follows its name sake disaster movie. So yes, Pacific Andes has gone Chapter 11 since.
Years ago, before I became discerning about value investing, I was pretty bought in to any “reasonable” story as a reason to buy a stock.
So what the devil was the story then?
Well, it was about the growing population of China and Asia in general. And with a growing population, demand for food will increase. Fishery provide the nutrients for the diet of a growing world. Blah, blah, blah.
So if you’re holding on to any of its shares now, good luck. A million shares at $0 per unit is still $0. Fortunately for me, all I have is 125 shares. I can live with it. How did I end up …Read the full article →