Got sidetracked and forgot what I was going to ramble on about.......
Been watching but not really taking much in, if that makes sense. It's so volatile it's hard to take any market moves seriously.
CBA, TCL and TLS all reported ok given the circumstances. Mrs Market does not agree. Down they go. I have my fill on them so unless they keep dropping I don't think I will be tempted. Good long term imo.
Most of my attention is on CDP. A persistent seller has been dumping and it's thinly traded so it has depressed the SP. Well that's my take on it. So I bought another parcel. Have 8k now. When the seller stops it should do well, I hope.
I yes, now I remember. I was going to say there's a disturbance in the force. There's a whole lot of new money in the market, and it's from newbie millennials who "don't do boomer stocks" (like most of mine). And there's so much money it's actually distorting the market and pushing up fashionable stocks, eg BNPL ones. Well they are currently having a great time and making lots of money, and good on them. But it's all based on the "greater fool" philosophy so I hope they are locking in profits because inevitably, no matter how smart they think they are, most of them are going to get fleeced. You see their biggest flaw is lack of respect for Mrs Market, and like mother nature, when you have no respect for something powerful, you overextend yourself and your abilities and resources, and that's when you come unstuck. Usually in a spectacular fashion. It may take a while, say a couple of years, but it's inevitable. Then they are all going to cry poor me and try and blame someone else. The market will address this, I have no doubt.
So in the meantime, I will keep accumulating my "boomer stocks", the ones with proven reliable income, accept my meager 7-10% pa return (what's wrong with me? That return is pathetic; I make that in a week they will say) and sleep well at night. And wait for these new experts to "discover" these stocks called blue chips. And they will wonder at them and their resilience and marvel how clever they are for finding them. On second thought it might take more than a couple of years because these guys are a bit slow on the uptake.
Anyway on with the show.
Confession to make. I have a love child with another Mrs Market (her name is NYSE
) and the child is called GOOGL.
