cvi cvio, page-50

All in all a pretty good thread, although the demons keep trying to derail it.

I would like to share my sharemarket experience. As i have learned from some pretty respected people.

When i left school (92)i pulled beers in Woollahra, Sydney. I met an ex gold futures broker. Dux of his school (we went to same school)and was married to the daughter of the Chairman of the Hong Kong stock exchange. However by the time i met him he was 56, divorced and a drunk. Lived in his mums flat in Paddington and made money cleaning the windows of the pub i worked at (Centennial Hotel). When i got to know him and he revealed all. And that was that he never put aside for a rainy day, thought he was invincible, and the 87 crash wipped him out. He taught me about preservation.

At the same pub i was a pool partner with a guy also in his 50's who was once the editor of the AFR. He gambled like crazy on everything and showed me how to pick rising stocks from the previous days paper using the 3yr, 1yr returns, PE ratios, plus a red pen and a ruler. No internet in those days and i never had a computer anyway. He taught me that the other guys in the market are there to take your money, and the director does not know your name, and allways take a profit. He was trying to teach me how to be rich.

The third and last guy i only met by chance a few years ago while i had a short contract in WA. He was a mining economist with the DoIR in WA. His approach was completly Fundamental. He taught me patience, diligence in research, and the persuit of knowledge. He is trying to teach me how to be wealthy.

As a 33 year old. I am on 80k P/A plus bonuses which can sometimes be 5 -30k. I dont owe a cent to anybody. Put my wife through uni, have 3 kids and started trading with 5k. I have not added to it !I paid 18k up front for my Masters.

My aim is to be a full time investor by 45. All the kids will have finished school/uni as i had kids very young. Having kids young taught me discipline with money.

HC is for all, traders and investors. Have a look at the GXY thread. Not a single trader. Excellent fundamental research, and technically competent mining expats. FDL is a traders wet dream. CVI is a mix. You cant control it.

Bacchus