Club Mulgoa

Sunday, October 24, 2010

Blue chips versus "the nothings"

Towards the end of 2007, ASX was $60+, BHP around $40-45, CBA about $50-$55, QBE was over $32, WOW was over $30, RIO over $100, MQG over $100. The press is still full of bullshit about how great some fund managers are.

If I didn't top up my "nothings" which collapsed even more than those companies, I would have done very poorly. And quite a few have gone a few times over the pre-GFC prices. What pisses me off the most, is the fees those people get. And getting my patients fussing about paying over the schedule fees; luckily there are only a handful.

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