I'm one of these more senior codgers - above 50 (tho most of the...

I'm one of these more senior codgers - above 50 (tho most of the time i don't feel it lol).

I first put my toe in the stockmarket waters in about 1986. Bought into some world beating shares including, Bond Media, Bond Corp, Westmex, Twin Tyres. The combination of these shares together with the 1987 stockmarket crash put me into the intensive care ward for stockmarket investors. For a number of years I lay paralized, unable to move towards another stock. Then all of a sudden in around 93/94 I tentatively bought about 1000 shares in Woolworths float...suddenly I was back! In 1994 I went to the bank, borrowed to buy a house in karratha and ask for another $85k to invest in the sharemarket. To this day i still have the $85k equity loan (which just ossilates up and down as i purchase or sell shares).

I have now been through the Asia crisis, the 9/11 twin towers, GFC and every other "disaster" that results in a stockmarket pullback, and what I have learnt is if you are patient and don't panic you will survive; and if you have a "foundation" of blue chips then your portfolio will grow.

Spec stocks can make you, just be sure you don't allow them to break you! I love speccies and have lost on enough of them but I have had some good wins also (eg. HDR @ 4c; OXL @ 4C). I always buy into a spec stock as if I could lose my investment, hence it won't kill me if I do, but if it takes off the rewards are great!

I don't trade a lot at the moment as i still work and don't have much time at this stage (tho I spend a lot of time "looking"). I do however have a portfolio of over 30 stocks, some nicely in the green, some yukily in the red. What I know is that even with the punches thrown up, its a great game - as long as you accept "you'll win some and you'll lose some"!!