esg going south , page-9

Hey all

Just wanted to share my take on things (for what it is worth).

In the next few days having a few parties, off for some more travel then back to Aus. Once I get back I have so much to do so probably wont post again till IER released. To be honest, I have decided a course of action and will have a break once it is in place.

I think that this global issue has another 5% or so to play out. Once that point is reached there will be a rebound and I think it will be quick & strong - I am talking overall market wise.

Kerry Packer once said that an Alan Bond comes along only once in your life. I was feeling the same way during the GFC - I have posted this before but at that time I decided the bottom was reached (as it turned out I was about 3 months too early) and put some cash in, cranked up the margin loan, pinned my ears back and bought CBA, ORG, LEI, OST, BLD, QAN, APA, etc.

In the end I sold these and put some profits into ESG.

The GFC (#1?) was very good to me. I hold ESG with no margin loan.

Those that have read my posts before know I hate the old Sunday morning punter and those that talk after the event too much.

In this respect I am happy to share what I am doing now before the event (at GFC 1 I was not on HC for most of it).

At the time I saw an opportunity and looking back I thought that the event was my Alan Bond :)

I feel that I was wrong - it is coming around again me thinks.

Here is what I am doing:

1. Hold ESG and pick up more in the range 68 - 70c
2. Buy a bigger boy that I think is going to pick up ESG
(not STO) - Charles Darwin uses its name (about 5%
cheaper than now)
3. Buy a little gas company near the old hippy town
(again, 5% cheaper than now)
4. Another smallish gas one, I will have to get a quiver
too (looking at 5-8% cheaper than now)

If the prices dont go that low, no probs - things stay the same for me and others dont have extra pain - cool. If they go even lower, no probs , I went in a touch too early in GFC too & did very nicely.

I dont wish for the market to go down further as I would never wish pain on others for any reason. If it does though I wont miss the opportunity. I strongly believe that by November / December this year my options will have been well rewarded.

I wish everyone well and whatever decisions are made I hope that they benefit you either now or into the future.

Whether you are so far ahead it is not funny or struggling with a margin loan under pressure, try to remember that this is just a game and the real and important things in life are not related to stocks nor money.

All the BEST