StocksWatch wrote:Antonym wrote:@mcqueen: Sorry for being unusually harsh, but...mcqueen wrote: my broker has sold my SFIN which i have bought long ago, to recover my outstanding,at 30,yesterday with a loss. today it went up to 40.but they didnt choose shars i gain little profit for force selling.because of that i loss morethan 8000.How they select shares for force selling.I have a dout why they select sfin only.please advise me ::
I have no sympathy for people who buy shares but do not pay for them. Such individuals are the root cause of the force selling problem. Coming here and behaving like a victim does not alter the fact that you had defaulted.
Please live within your means and pay for whatever you buy, as a responsible citizen should. By doing so, you will also be helping the rest of the investing community.
I am affraid but I am also inclined to agree with Antonym on this. It is your fault that you didn't pay the outstanding monies. Also you claim to have few other shares where you are making profit. Why didn't you sell those to settle your credit at the first place without giving an opportunity for the broker to select the share on your behalf?
Let me disagree...And ask you this
"What business runs without credit?"
In finance, the concept of credit is fundamental.
Also let me cite another example : I like to own a Ferrari. Now with my current salary and savings i might just be able to save for the next 50 years ( i will be 80 then) and buy the Ferrari for cash.
Or i can take a loan ( KNOWING the repayment terms and conditions) and buy the car now.
My ability to manage the "benefits" that come with a Ferrari at 30 would be much better than at 80
** The important point is to KNOW the repayment terms and conditions, when going for credit **
When a Broker says "Dude, pay before noon" THAT is does not qualify as "knowing the repayment terms in advance"
While we all agree that we must always pay for what we take, what i am against is about the ad-hoc changes of the rules to play by.
Disclosure : I do not own a Ferrari