A paper loss is no more than that unless you sell and I do not see many people prepared to sell at this level despite attempts by the more cynical traders to create the illusion that the sp is dropping. It is clear that the majority of long term holders can now see light at the end of the tunnel and are prepared to wait this out. We are nearly at the end of 2015 with a very exciting 2016 ahead of us. OPEC looks like it is going to push the price of oil back up soon and we are already cash positive at the current level. Selling now would just be handing your holding to those same traders who will make capitalise on your investment. I can't speak for others but I am holding for the recovery.
Many have been crystalizing their losses since the share came out of suspension. That’s why the price keeps falling. They are all better of today than if they had hung on, they could also buy back and get a better return than by averaging down, if they saw upside.
As the FT reported earlier this week, the message on oil coming out of Saudi Arabia is starting to soften.
Ahead of next week’s meeting of oil cartel members, senior Saudi officials have been saying that “prices fell further than they ever anticipated… remarks that for many in the oil market imply the Opec kingpin wants the year-long oil rout to come to a close.” John Stepek Editor, MoneyWeek
The “smart money” in Spain is moving into luxury camping sites. Valencia Region has recently change it’s rules to allow this and a lot of money is being invested in site development.
Germans are buying home made Concorde RV’s and moving from site to site. Brits are buying up American 5th Wheelers to do the same.
The local term is “Snow Birds” As people come out for the winter season and return home for the summer. During the summer the site fills with holiday makers. The Spanish are taking out annual plots rather than buying country homes.
The drive behind this is the realization that the “baby boom years” are finished, people have to work for longer and flexibility is a priority. The market also includes those that have downsized to create an income.
The moto of this is that the market has changed and many have yet to catch on. Housing was a good investment here if you timed it correctly. That is no longer the place for the smart money.
Land near a Motorway is now at a premium to costal plots, due to access.
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