Guts or Guile

I have had many stocks where nobody wanted them, generating big, big losses for me. But those where I know have value but are sold off by desperate/dim sellers, I don't ignore. In fact, if I didn't buy them at the awfully low offer price, I would have been much poorer since the turn of GFC. And today, I can add SGY to that list. I topped up recently at a SPP plan below market price at the maximum. After I bought, it went lower and lower. Did I get angry? No I didn't; just tested my patience.

You have to have guts to withstand the losses. And you need guile to read about the company to know that the losses are due to idiots selling. I love those idiots and wish there are a lot more of them!

And why bother buying BHP and RIO where there are not so many idiots on the registry?