The following is not advice and I am not particularly smart either.
Just need to share a significant decision for my SMSF. It is in my control and I have muddled along for 20 years with 90% Australian shares I liked at any time and 10% cash to take advantage of opportunities.
In 2007, the shares went up a lot which seemed irrational/euphoric/greedy. The ASX200 reached 6800. I understood this was not sustainable and intended to do something but did nothing. The shares went down and on paper lost $1 in $3. I was disappointed in myself at the time and it took the ASX200 a long time to get back to 6800.
In the last 6 months, I have had a nagging feeling that shares will have another significant drop. This time does not feel euphoric, it feels desperate. So, recently, I have sold 90% of each company. AKE is the last one. I sold 50% a few months ago and intend to sell 40% when it reaches $12.
I am 56, so more conservative as I approach retirement. My plan is to sit in cash and watch. If there is a correction, I will jump back in. If not, I will miss out.
Even though I rarely post, I do read most of them and love the learning and your intelligence.
AKE Price at posting:
$10.81 Sentiment: None Disclosure: Held
