I was recently advising someone getting started in investing,...

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JoeGambler

7,014 Posts.

1917

06/04/24

14:06

Post #: 73219970
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Originally posted by BJReplay: ↑

I'll bite

Child #1 worked part time through uni and bought himself a flat with his savings and smart investments. Yeah, he had some crypto which he sold at the right time and some meme stocks like... checks notes... AMD which he sold to pay his deposit. Mostly invested in single stocks rather than ETFs or the wider market.

Child #2 worked part time through uni and is an investor, and currently has around $100k in her portfolio, mostly internally geared ETFs.

Both children have saved all their own money, been gifted nothing except Sunday dinners, and are under 25.

I advised them to look at HC and do exactly the opposite of bag hodlers for ISX, and to sell out of bad investments and to take the capital loss against future capital gains.

That's what Child #2 did when she accidently bought ASX instead of an ASX200 ETF - she sold, took the capital loss, and offset it against a capital gain when she traded out of an ETF into a geared ETF. Smart.

If only you could take the capital loss on SP1.

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I was recently advising someone getting started in investing, they did the same thing.... bought ASX the stock instead of VAS. Very, very funny. Anyway, there are much worse things you can stumble on to, like Cypriot based small cap payment facilitators.

Last edited by JoeGambler: 06/04/24

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Not Held
5 Upvote

3 Great analysis

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