$70, page-44

"The key to SMSF is keeping it simple and don’t put it in anything outside blue chips. "
I don't agree with that statement. I've been operating my 2 x SMSF and I have only a few stocks considered blue chips. In fact 90% of my portfolio would be considered risky by some.
To start with most of the capital gains made on the ASX is outside blue chips. How many blue chips go up 1000% or more especially recently. NONE.
The SMSF is an ideal way to make millions without paying any tax. So why not take the opportunity to increase your wealth dramatically Although this is changing with the $1.6 million cap in the pension phase. However, even with the new $1.6 million cap, you can make more money as the tax on capital gains is at 10% rather than 15% if held for 12 months plus.
The other important issue is timing, always be prepared to take profits, no point watching a share go up and then watch it go all the way down again. Thats plain foolish, nobody is ever good at picking the top or bottom so there are times when you may get it wrong, just as I did selling my RIO at $80+ and then watching it go to $88, but hey its back down to $71 now. In the meantime I invested the money elsewhere and made a profit instead of a loss.
Yes, most would say that investing outside blue chips is more risky and I agree with that but you'll never make a lot of money either.