I've had it in the ass with Rifco

Have you seen the last results for Rifco?


It's bad as shit. Earnings are half what they were last year. In fact, you just have to read the first 10 lines of the results and you'll see that something stinks a lot. I think I could say that SOME THINGS stink.


So, this morning, at around 9:40 AM, I sold all my shares of Rifco. I've sold all of them at about 50% of my purchase price, which means a great loss. I simply couldn't see how things could get better in the year ahead. I'm pretty sure that the price of the shares will decline a lot in the next few weeks but I don't have any intention of buying it back in the coming months.


Rifco was one of the only Venture stock in which I had faith.


Now, one of my rule of investment will be to avoid the venture because companies listed there almost never have solid kidneys (les reins solides, comme on dit en français).


Fuck the Venture. Fuck Loyalist Group, Fuck Macro Enterprises, Fuck NTG Clarity Networks and now, Fuck Rifco.


Don't invest in a business that is active in a limited region or in a company that hasn't had at least 5 years of profitability. That way, you'll see that the Venture isn't a very safe place investment.


My prediction: Dark forebodings for AutoCanada. If people in Alberta have problems paying their loans, they'll surely won't buy a new car.