Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Pete, my simple observation is that you trade to often mate, you should maybe invest instead, decide if you are a trader or investor, maybe look at a few managed funds to remove the worry. Markets go up and down as we all know and short term it is often possible to 'fall lucky' and land on a decent riser at the right time then get out again - thats what traders do. LT Investors know that there will be peaks and troughs and so ride the ripples. Im a ripple rider, hence the name on here, we are all different though with differing styles, you need to find yours mate. True Investing IMHO is a longer term game not a quick gamble, mr Buffetts done ok i recon and i kindof follow that route.
As for current situation, nobody on earth can predict something like this virus and the media driven hysteria thats going on, anyone who suggests they can are dreamers, lucky dreamers if they bought at the right spot but aim is full of stories of people losing the lot, tempered with the very rare winner along the way. The aim market is a bit of a cesspit in truth, a view widely accepted.
A quick peak back on the ncyt chart from a few days ago will clearly show Breathes average was higher than the market price at some points, didnt mention that tho. Its a traders share and bounces around a lot, if happy to trade and you want to 'risk' your capital 100% then maybe do so, rewards can be big but so can losses, aim is full of those. Glen etc maybe down, but will likely still be here next week, many on the smaller markets are not.
Supports my view point. A good weekend read gentlemen if you are consider jumping in early with spare cash. Please read patiently a contrarian view.
https://www.google.com/amp/s/www.vox.com/platform/amp/2020/2/28/21157689/coronavirus-stock-crash-dow-recession
This week’s stock market meltdown, explained
A warning that things are going to get worse.
By Matthew Yglesias on February 28, 2020 4:20 pm
Last Friday I raised concern while discussing here with Ken that DOW was on cocaine hoping for more QE by fed & Govts, China was in deep deep trouble, Pandemic was starting, copper was not going up. I called it factors for a perfect storm last Friday and sadly it has happened. 2 weeks ago I advised 6 of my friends who have ISA accounts & seek advice, who had made good money with IAG, TUI, SCT and BGEO to sell all and go cash as South Korea spread started. They are now happy including dipping toes 10% in NYCT. Being taken out for a family dinner by them tommorow as a thanks, so "george " cannot take on your invite for guest speaker in your group meet, which you mentioned in your breakdown rant on Monday :) . I was wrong with my prediction of Gold and Fresnillo, and was surprised.
Only thing that baffles me gentlemen is that many of you are heavily invested in minerals, oil sector and keep adding when the SP is going down especially scandal ridden Glen. Liked your idea ken of selling Glen and moving it elsewhere. There are better growth stocks. Sage is spoton with view of TUI & travel related stocks. The way I see China is still not out of trouble as half the population is still restricted and in lock down. Once all the subways and rush opens imagine spread of infection. WIth pandemic another 3 months at least for things to be clear for shipping trading to resume. Markets will tank if deaths start in US and Germany in big numbers (even though Flu kills more) in next month or two. So I will wait with half of my NYCT profits to invest when the view is clear. There is enough froth on the way up to enjoy rather catch it on the way down to time it perfect. Patience is needed with cash on sidelines. Over the years I made good profit with these companies which pay a good dividend. DYOR and decide. BGEO, SCT, SCT, CCC, RSW, BGEO, FERG, WWW or BIOG.
When I said I feel for you all on Monday George......I said so because I was there when markets crashed and my portfolio was going down the tube. Had big losses with fall of PFG, BIOG when hiliary tweeted about price gouging, PTEC when they warned re china income loss and learnt not to hold onto stocks and sell even at a loss of 20 or 30% and move on. That helped me make up my losses as there were opportunities elsewhere. Anyway gentlemen wish you all the best in your ways of investing if it works well for you. Markets will recover but waiting is a b***ch.