Feasting on panicking investors
http://www.theaustralian.com.au/national-affairs/one-mans-feast-as-sharemarket-crashes/story-fn59niix-1226114114307
Thought it was writing about a gasman in Penrith area.
This stockbroker actually moved a bit late. His slow cooked pork belly would have been a little overcooked. The best day was last Monday. I went on a rampage collecting lots of mostly gold producers. Even IAU, an explorer, is up more than 10% now. And CNLO a phosphate explorer in Tunisia is up nearly 20%. I picked up some PCL at 9.3c, now 10.5c.
I was ready to pounce for more but only if there was a greater panic so I missed out on Tuesday. I was running out of cash and had to set my buy prices lower. I just love idiotic sellers. I wonder what logic do they use for selling. Perhaps it is because it is "other people's" money and they are going to be paid handsomely anyway.
posted by Club Mulgoa @ 3:05 PM
2 Comments:
I did read this thinking they must be talking about you then thought no this guy is cruising rather than pouncing
Pity my wife won't let me take more from her cash reserve.... Still, if the market turned the other way around and fell further, I would not have said "Luckily she won't give me any more of her cash!"
It is a fundamental investment principle that you must ALWAYS have cash in reserve especially when "senior citizen" status is not that far away. My wife is ALWAYS right.
Post a Comment
<< Home