Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Many thanks Skippo
There are two types of investor in my experience.... those who make occasional losses and those who lie .....
Ozinvestor, I claimed against gains I made in year end March 2016 which as far as I'm concerned' is when the shares became worthless. My accountants accepted this and they are a fairly large company
Apologies in advance for the non SOLG question:
Skippo, I too lost a boat load on Xel and I haven't used the tax losses as yet, have 4 years to claim them, and havent had a year in profit since xel dissolved. :-(. This year is the year, SOLG going to make us all some good money! Question - what date did you use for the effective date of the loss? I couldn't find anything concrete from FTI consulting re when we could actually claim the loss. Many thanks in advance... and then back to SOLG!
Thanks, I hope so. It will be a great relief if this comes off, but that's the nature of risk, nothing ventured etc.... I know most on here are after £1 plus, which would be brilliant, but after all the ups and downs I'd been inclined to cash in on some at least if we got to 50-60p.
Probably a smart move Woody....October should be very rich news month,and IMHO positive ones...added few myself on the back of the recent weakness....ATB.
I've just bought 19,600 more. Everything crossed now for some reasonable news on financing.
Yes sunscreen is important when driving a Morgan M3W.
The Only piece of advice you missed off was "don't forget to use the sunscreen" LOL
Hi Mrs Newchurch, I already have pretty much everything I need or want. I had a massive brain bleed seven years ago and spent three months in hospital. trying not to sound too 'treacly' or smug,but it focuses the mind that it's people who really matter and not money. I am very lucky to be fortunate on both counts. I can still play golf and am reasonably mobile, have a great wife, kids and grandkids and love eating out. What more does a man need (but I wouldn't mind a Morgan M3W, see Quady's previous post)!
Skippo, the book I liked the most is 'Simple but not easy'. Also whatever Terry Smith writes is full of common sense. For entertainment and business, Michael Lewis is a great writer.
The only reason I invest is to make money to spend, so if the time horizon becomes too far away, I may make money, but I will be too old to spend it!! I am 63 and my business was commodity and equity trading - some years ago now.
I hope it comes good too Quady, but life is good for me and has been for many years. I'm very lucky. Thanks for your reading advice and good luck to all invested here
Sorry to hear that Skippo. I hope this comes good for you, as myself and others on here. I am not sure I am the person to offer you advice, as I am currently 57, and started young. Spent some time as a broker in my early twenties. But most of my life in Information Technology. The only bit of advice, I may proffer, is maybe an investment strategy isn't the best line to take. At 70 maybe a spend strategy, like how much to leave the children, days out solo or with family and friends. Or my favourite a Morgan M3W . They are a lot of fun. I say this completely tongue in cheek, and wish you all the best.
Many thanks Quady for your help. I feel a bit ashamed of my ignorance as I am seventy years old and have been investing since the year 2000. I’ve made modest profits over the years but lost a packet on xcite energy due to the duplicity of the directors (allegedly). Fortunately I’d made substantial business gains elsewhere, so the losses from xcite vastly reduced my tax liability that year. I have been invested in Solg since the few pence days, and currently hold 500k at 31p average. I confess to being a bit of a gambler but I’ve been retired for many years and this stock and a few others help to keep the juices flowing.
I apologise for the monologue
After a lifetime of being involved in corporate transactions, both as an advisor and principal, I can tell you that all valuation methodology is pretty much irrelevant.
As Quady says, it's easy to work out a technical valuation, but it will virtually never translate into an actual realised value.
It's a truism, but something is only worth what someone will pay for it; and different people have different reasons for attributing their own value.
My only advice is don't waste too much time trying to establish a "fair value". The market will do the work for you. It's probably more productive to focus on selling when you've reached a profit level that you feel comfortable with.
Good morning Skippo, just realised, that I never answered your question, On a book to read. I am not a great fan of investment books, as there is always some new knowledge that someone declares is a must have and gives you an edge. I would not recommend anything by Jim Slater, as mostly states the obvious. Better to save your money, and buy a few extra shares. One book that may interest you is, The Intelligent Investor by Benjamin Gramham. It's an old book written I think in the 1940's or 1950's. But will give you a starting place, and still true today. But I like that book as it suits my style of investing. I am sure others have taken other paths and have other strategies, and would not like my choice of reading, and offer up some other material that suits there style.
Hello Skippo, I have been doing this for almost 40 years, the main problems I have encountered, is it's one thing to technically work out the value of a company. That's the easy part. It's more difficult to define why that value is not achieved. Books are OK, but do not replace experience. Solgold is a good example. The one thing that would move this share is a more expansive market for the shares. Support of a price, a fair price. Comes from volume of trade. As a good story always wins out. Just look at the FTSE 100, and understand, why those shares are nearer to true value or above it. My recommendation is never be in a rush to do anything. Take your time. Don't worry about missing the boat. Better to make a small profit than a loss. But be comfortable with your investment. If you receive abuse on any chat room, remember it says more about the person abusing you than it does you. So a thick skin. Lastly have a plan. Depending on your age. I very rarely go for shares like this, and fund this type of purchase through the dividends of my income shares. I am mainly in FTSE 350 stocks to give me an income. You need a plan as to what you are trying to achieve. Be patient, investments take many years.
Thanks for the reply Quady. Can you suggest any way I could learn more about the mechanics of the market? Any books or articles?
Quady ,Thanks for giving your view on trades,share price ,hoping for a blue finish today !!:):)
Hello Skippo, the reason that the price rises or falls, isn't to do with buys versus sales, or vice versa. It's how many are available on book. So for example if a MM shows 250,000 to bid or requests a block, this alters the supply and demand side of the equation. I could make it simple and say it's about how many are available within the free float, but others on this forum would correctly point out, that this is technically wrong. It's about supply and demand of shares, so it's about the offer price, which is set by availability of the share in question, as opposed to the bid price, which rises when blocks of shares are sold for an underlying price, and so etablishes a new level, and an offer price, where more are put up for sale, and so restricts or lowers the price. There are a few more factors, but generally that's the mechanics of a market.
Blame brexit ! Everyone else seems too
GLA
Thanks for the reply, but you obviously don’t know either!
In the same way as yesterday 3 mill of buys against 1.5 mill of sells and the price went down... Go figure, you do the math
ADVFN shows 636528 buys and 5,050,014 sells. Anyone care to comment or explain why the share price still rises?
I am heavily invested and this is a genuine question
Thanks for the link