i've just finished a book by l l b angus published by macmillans 1930. angus stated ALWAYS USE A STOP LOSS. this book, evidently, is rare and sought after. it was a simple enough read. no high tech cos back then there wasn't any apart from a ticker tape. all rules back then apply today. KISS is for me the best along with FLEXIBILITY.
i never have used stop losses and prefer to use my nouse with the economic and political news as well as trying to understand the business i've invested in as well as possible. yes, i admit i've suffered big losses early days before internet but really because i didn't have access to info in time. now THIS IS WHY stop losses are important.
so i have some rules. trying to stick to them lol takes away a lot of the enjoyment for me.
but i agree. i am foolish and you are wise.
i'll carry on my sweet way but do not recommend others do.
i currently have a bond/cash fund in liquidation in oz. it'll be some 2 yrs before they hope to sort it. some payments being made along the way. my rules helped considerably this one but it was the sub prime disater that took it's toll on bonds becoming illiquid once a run on the fund materialised. my investment was sitting waiting just like a bank deposit.
good post as many can learn from others. not able to read all as hc to ify atm.
make rules apply them if you want to have play money outside the rules keep it seperate always the main funds should be managed properly if not you will not be around too long diversify
