g’day rooks.
you’re well set then,
ive sold half my MRDOB. yes, it all looks promising, but until those drill results, no one has any idea if we are a hit or a miss. If a miss, we’re going down and hard. If it’s a hit, I have enough to do very nicely.
now I know some will laugh & ridicule me for doing that, but it must be remembered that we’re all at different stages in our investment lives. I’m 72. Retired at 56 on my very aggressive share investing at that time, mainly in penny dreadfuls.
I simply can’t afford any sort of capital loss. I get the impression that most here are between 20-40 or 50. Maybe a few oldies like me. Probably a few teens as well. If I was in that 20-50 age bracket and earning the quite large salary I used to in the old days, I would have been buying TI1 and FEX with my ears pinned back. I would have bought significantly more MRDOB & MRD as well. But I’m not. As I’ve said before, all my shares atm don’t add to 5% of our funds. That’s what you have to be disciplined to do in retirement. When you have enough, stop risking most of it and just use a small amount to play around with as I’m doing.
I well remember the tech crash of 2000. I actually had enough to retire way back then, but was too young IMO. I was active on the boards of those days and I advised my squirrel policy of selling some as we rose. Almost any stock was flying in those days. It was crazy. Some days you’d make 20-50% and more in a day! 10 baggers were easy and there were many. So I was laughed at and ridiculed by most. I didn’t care, I stuck to my policy. Then the crash came. Cost me a fortune, BUT, I ended that year +30% overall. Many were wiped out. I also lost plenty in the 08/09 crash, but having retired in 2005, I had liquidated enough, that I was ok. Again, many wiped out.
if you want to get wealthy with shares, you need to have a very clear idea of your investment strategy and criteria. Strategy can and does change. Over 26 years from 1989, I started as a contrarian, went into blue chips, then into the tech boom/penny dreadfuls and eventually into the junior resource sector where I made all my money. You must also have an end game/target and a plan of what to do when you get there.
an old saying is always own your age in bonds. Not bad advice. I only got into them in recent years, but by the time you retire, you want to be mainly bonds, some TD’s if rates ok and a small % in shares.
sorry to ramble on a bit, but I can see over exuberance in many here. You can get very wealthy with shares. You can also get very broke. If you want the former, you MUST have a clear strategy, disciplined approach and firm goal.
if I reach just one person and they understand what I’m saying and apply to their investing, I’ll be delighted. I suspect I won’t.
cheers,
ned.
Expand
(20min delay)