Iron ore price, page-32070

Convexity I agree with you 100%. Casino's make their profits by getting so called winners back to the table who think they can continue to replicate their winning streak into perpetuity.

I learnt from my past mistakes and am very careful at this point in my life not to risk my nest egg by thinking I can predict the next multibagger time after time and don't give out advice to friends, family or fellow posters to follow my calls.

Like I previously have said I was locking in the gains of my 10 plus bagger in March last year into 18 different companies going for 10 year lows at the time I was mindful of APT at $9. A voice in my head told me go on, roll the dice you can pick them, and buy 2.2 million shares of APT and hold them for a year and see where the share price is by then. The voice of reason said you were lucky to pick two multibaggers in your life time and what would happen if I got it wrong believing in my own hubris.

I've got 3 kids too put through private school and also fund my parent's full time live in carers to keep her out of a nursing home and it would if been stupid and reckless to roll the dice again by going all in again. I don't think of what gains I missed out on but I certainly could of given some big helping handouts to others near and dear to me if I did. I am like Andrew F now never selling a share to buy stuff and only using a fraction of our dividends to live from.

My wife is not me and I am not so full of myself that I can think I can continue this wining run forever as smart as I think I am I am aware it's sometimes blind luck that played a big part of my success.

From here on in all future dividends after we spend a big chunk of it on a forever home and upgrading a investment property will go back into boring ETF's. Our wills are set up that the children will only have access to a portion of the income from their inheritance and each future generation of my family can use it to give them a healthy leg up in life and hopefully one of them or their children can use it chase their dream and vision and make something more of themselves.

I am not going to risk it all again and have set us up if another pandemic hits us or another GFC eventuates we can sail through it without being forced to sell any our portfolio. The reason I am going to transition future excess dividends into ETF's is because the winners of today end up being the dust of the future either through being overtaken by new companies like Apple and Amazon or poor management decisions.

We can both agree with your outlook as I have seen companies and families that I thought would be successful forever crash and burn because they thought they were infallible. Even an article I posted about the life of Andrew Forest one of those close to him said his biggest flaw was his belief that because of his previous battles and wins in life he can win in every venture he tries. They thought that one day he will fail bitting off more than he can chew so who is to know if FFI is going to prove it's his Waterloo moment.

Time will tell with FMG and their FFI venture but many people questioned Steve Jobs about his dreams and ambitions while he was alive and he lived long enough to prove the naysayers wrong.