Ann: Preparations underway for start of Zapato-1 exploration well, page-404

You should be. At least 10 years involved in the sharemarket and you’ve managed to learn nothing, or at least very little, about smallcap investment. The last couple of weeks has really highlighted there’s plenty of holders here who should never own anything other than ETF’s. In 6-12 months there’s going to be a lot of….omg why did I sell near the bottom, that could’ve been life changing, oh well back to the mind numbing day job as I’ve eroded all my funds buying high and selling low chasing the “next big thing”….

For anyone interested in Dow Theory, we are now in the “Panic/Despair Phase”…..this is where a significant distribution of wealth occurs. As sentiment swings from euphoria to panic, those with the experience to recognise these patterns of herd mentality can make significant gains. This is exactly what the great man himself meant by “be fearful when others are greedy, be greedy when others are fearful”. How many of these new participants, in hindsight, now wish they’d sold instead of bought when the sp peaked recently? How many will look back on the current sp and wish they’d bought instead of sold around these levels? It is the same old story, few ever learn the lesson and end up walking away from the share market telling themselves it’s “rigged”.

”Stupidity has a price and it always gets paid”