wanty re: how hard is it to switch to trading for Hi wantyI have...

wanty re: how hard is it to switch to trading for Hi wanty

I have to admit I’m not an avid reader of books. I really enjoy the financial and political press and make a daily commitment to a few hours of it. Mostly online now but with the occassional look into a newspaper when the opportunity occurs. Best with the internet because I can choose where and what to read. I used to read the London Financial Times, cover to cover. This I did over a few decades. Not now though. The paper’s a rag compared to what it was. The AFR is not much in my book either. Now the AFR want to blackmail me online I’ve deleted them from my bookmarks. One can find out everything online if it’s necessary. I rate Bloomberg as a very good lead into what is happening. I go from there. www.bloomberg.com When in doubt I call my broker and ask for them to email me reports that otherwise need to be paid for.

I helped my parents over 20 years with their newspaper business from the age of 7. This was ‘my book’. I had to learn the secrets of cash flow etc. Sounds a lot easier than it is. Pity some directors don’t have to do courses before being given their jobs. The old school tie really isn’t the way to go. Too cronyism. Not enough knowledge.

I never mentioned earlier that we have no kids. This made it a lot easier going down our chosen path. However, I jumped out of the workforce at 37 so it kinda equalled things out a bit. Had we kids then my route in life would’ve been diffferent. Maybe the investment route later. Anyway, the way it turned out we could have done it with kids. If you have the responsibility of kids then the risks of jumping out of the workforce too early are there though. I suppose it’s all a matter of capital and expenditure within the family group.

I read company reports (always everything on investments I hold), broker blurb, analysts reports and a lot of miscellaneous financial bits and bobs on the net. When I’m in investing research mood, I delve into all the ASX announcements daily. I’m very bearish now and don’t even bother to look at the ASX announcements, apart from news on companies I still hold, that is. If I did then I’d have little time for hc. I do find it interesting on here though. It took a few seconds to sort out those for the ignore button but generally there is a lot to be gathered from the chat room. No, I’m not one that gets sucked into the junk postings. I react totally opposite to such. I have a laugh and post some humour back but then it’s all about keeping sane. There are some good posters with some nice finds on hc. Gotta give krisbarry (twot he is)points for staying the course, if nothing else, he he.

I’m happy you’re reading, learning and enjoying it. Read as much as you can. You’ll no doubt avoid a lot of the mistakes I made and a lot earlier too. Sadly, I hate reading books. 20 years of free newspapers to read was enough ! The message is usually to read Warren Buffet but I never have. I may be stupid and unintelligent but I like to think I find some different ways out there as I am not influenced by others who’ve written books. The financial press is a bit different as I do not think it gives me unadulterated scribe in one fell swoop from one person. Ok, so I’m ignorant too. I accept that. The end result is I hate reading books. That’s me, I’m afraid.

The only book I’ve ever read seriously was Bob Beckman’s ‘Downwave’. This helped me to avoid the 1987 crash. Yes, I did enjoy it. In fact, today is very similar in many ways to what Bob predicted back then in his book. This time though, I see many more factors out of sinc which gives me the strong impression we are into the 1929, 1974 type scenerio. 2006 a different route but same destination. Down big time over a long period. We are not at the 9/11 or Oct 87 spot on the calendar. They were ‘quick kill’ and then over. This time imo it will be long and slow. Down to depths most will only experience once in a lifetime. Only time will tell. However, we are mid way through the 60 yr+/- cycle on from 1974.

Tell the kids to save 10% of all their ‘income’. Never to get used to all they get and they won’t miss it. If they are brave enough to do 20% then they will love me forever. The rules : One mustn’t touch the money apart from buying a home. It all has to be invested. When the income is big enough to live from then they’ve arrived. Enjoy the journey ! It’s not as far as you think.

Be good.