At the risk of repeating myself, stocks like Norwood, and there are probably hundreds, are history.
Why would you punt, in this environment, on speccies ? I'll give you an example: I bought TNT at 4.3 and sold at 5 just before they went to 9. Regretful at selling ? Of course. I had 3 million and could have made an extra $120,000. Not happy at the time. TNT price now is 3.2 and to sell 3 million would be impossible.
Norwood is in the same boat. Sure, there have been substantial crossings at 3, but let's not confuse genuine demand with transfers from one fund to another for tax reasons.
All of us have suffered at the hands of the market. My Westpac at $25 are now below $15. Newcrest at $30 are now $22. Heavens knows how much property will drop. How many people will default on their mortgage ? How many will go from a decent income to nothing ?
The only advice, and, as you can see, I am no expert, is that any sale in Norwood is a good one. As I understand it, if they disappear, as they surely will, claiming a tax loss is fraught.
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