I Bought Perak Corp in year 2006 for 60 cents. But after buying Perak Corp at 60 cents it crashed to only 40 cents. But I dare not buy more. Why?

You see in a time of gloom I bought Perak Corp at 60 cents because I saw Perak Corp owned 1,000 acres prime lands near Lumut, Perak. Perak Corp also qualifies as a Graham NET NET Stock then

At 60 cents with NTA over Rm3.00 it was selling at a Huge Discount of 80%

Alas! After buying it crashed by 33% to only 40 cents!

But I saw even better Value in Perak Corp. So I told my Johor Buddies about the virtues of Perak Corp.

"Perak?" they retorted, "That's too faraway from Johor. Where got anything good? NTA? No No. We want to see earnings"

So some Johor Buddies bought Transmile (Rm15.00 then) & Megan Media (Rm2.00 then).

Sorry for them dumb buddies who later left me and no more coming to share market again after both Transmile & Megan Media both gone bankrupt (these were the 2 hot stocks of the day, those days)

Nobody in Johor interested in Perak Corp?

So I picked up the phone and called my friend Mr Lee from Perak. 

"Hello Mr. Lee" I said, with earnest voice, "You better buy some Perak Corp shares as it is really cheap"

Mr Lee,replied, "Better consult my Remisier in Perak First". Then he called back and said, "Perak Corp is useless stock lah! Never moved but kept dropping all these years" Ha! Even "Experts" from Perak poured cold water on Perak Corp.

Perak Corp sounds like "Berak Corpse"

Years passed. Berak Corp turned back into PERAK CORP!!

From 40 cts it Powered (or Peraked) to Rm4.00. Up 1,000%

So I listened to doubt and fear. And fear caused me not to buy more Perak Corp at 40 cts.

I spoke to my friend - TAN PAO' the Champion Landlord of Kota Masai with 200 houses.

He shared his valuable experience. In those days when he bought auctioned property from Johor High Court he used to be the sole bidder. In fact he was the only bidder that day. There were 150 properties for auction BUT HE ONLY BOUGHT ONE HOUSE.

149 PROPERTIES WERE LEFT UNSOLD.

There isn't a single other person interested in buying Johor High Court Auction Properties in those days.

When in Court at 10 am seeing not even one soul except TAN PAO the court bailif asked him to go to the back office. Met the judge and just sign the Sale Agreement without even entering the auction room. All formalities were set aside.

TAN PAO Bought and Bought Dirt Cheap Houses When No Body Wanted.

Not now. For some plantation lands you can expect up to 200 bidders to turn up for it in boom years. And prices are bidded up to the sky. But TAN BAO bought them at rock bottom prices.

Ha! I should have bought more Perak Corp at 40 cts in those days!!

So now I am wiser after meeting TAN PAO (TAN BAO MADE RM20 MILLIONS FROM AUCTION PROPERTIES}

Bought MP Corp at 39.5 cts?

Price crashed to 24 cts & Nobody interested?

Ha I know what to do now