tui, help a brother out? Can I borrow against your house to beef...

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01/11/17

21:15

Post #: 28414518
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Originally posted by tui ↑

I will tell you all a story about SXY. Some people will say i am being a smart alec, some people will recognise that this story took a lot of guts.

Years ago VPEhad options at 25 cents. I knew in my head that VPE/SXY was going above a dollar so I yelled out to my wife in the kitchen " Hey, things are looking good, why don't we mortgage the house and put $A500k on SXY."....I thought she said yes so the next day I was playing golf with a BNZ manager and I asked him if I could get a $NZ625,000 loan to buy some SXY shares. ( $A500)k'
He asked me what my house was worth.. I said about 1.6 million and he said okay. When do you want it? Next week? I said no .2 weeks would be fine.

And then having achieived what I wanted I sort of went to sleep on it. And it was not until the next Thursday that I realised that I had not talked to my wife about this . Everything was in place but I had forgot to "remind " my wife about this big certainty. The appt was the next day and you cannot imagine the wrath I got from my darling wife. What... a mortgage to buy shares?!!!!!!!!!!! Took a lot of convincing ,...but we got it done and SXY went to $1.20.

I repaid the $500k and have always kept SXY. It is is 70% of my portfoilio. It changed my life.

Stick with SXY and oilers. We will have our day in the sun again. Oil consumption is rising and oil investment is falling. A perfect time to buy oil.

ps Cross promoting...buy some BUL.

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tui, help a brother out? Can I borrow against your house to beef up my holding? Safe as houses as you say

SXY Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
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tui, help a brother out? Can I borrow against your house to beef...

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IMDEX to receive $10M in out-of-court settlement with Boart Longyear over downhole tool patent

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Victory Metals dips -8% even as company set to grow heavy REE resource at North Stanmore

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