We have a small portfolio in Australia consisting of 2 individual stocks listed on the ASX. One of them is WorleyParsons Limited (ASX: WOR). It is an Australian engineering company that provides project delivery & consulting services to the resources & energy sectors, and complex process industries. Did you understand what this company is doing from the short introduction? Because I didn’t initially and still invested in WOR.
Subsequently after doing some research & analysis, I only acquired a basic level of understanding of what WOR does but wanted to get some indirect exposure to the Australian resources & energy sector. Over the course of a few years while working in Australia and Singapore, the size of the position and unrealised losses in WOR grew as I averaged down blindly with the worsening oil prices. At the lowest point, my unrealised loss position in WOR was A$6,500.
This was my biggest investing mistake and I had basically written it off ......
