RE: Fortunes3 Dec 2020 00:31
Evening Zoros, My story is one of lots of little things rather than a lightbulb moment. Funnily enough it started from a recommendation on the Solgold board (so cross ramping does work sometimes). Just after Had5. I started buying in Feb19 and after the second set of results where GH said the market just doesnt understand. I trusted and believed him, something that is pretty rare for me. Most of my purchases were between 1.60 and 1.80 but some were in the 1.50s. In those days it made a difference! But one consistent theme rang true, that this share was worth a lot more than the market was giving it credit for, usually about double. Plus I really did think the downside risk was minimal which is really important. We had a few false breakouts which I chased and so my average did rise a bit. By the time it really broke out back in Jan I had 20m which I didnt think that much until I heard what other people had (naive/stupid/embarrassing). But I bought more quite aggressively at the 3ish level. When it broke out I thought it was worth 6p, when I had 30m I was pretty sure it was worth 12p. I had friends telling me what to do (sell, sell half etc ), who I ignored. Large numbers dont frighten me as I had big p&ls when I was trading for a large trading house. I did let some go at 18p to cover my investment (I think about £600K at its highest). I also switched some into SVE, both reducing my investment and increasing my holding at the same time (unique I think). I also sold some today and have now taken out over £500k while still holding 23m. I still think they are worth a lot more, so still cheap, but the numbers are getting too large even for me now. I will have a huge tax bill in Jan 22, but the ISA shares are about half of what I had and will be held till GH sells.
Obviously I have never been in a share like this before and will probably retire to a bunch of managed funds when I do sell up. Luck does play a part and nothing will compare to this ride, so I probably wont even try to emulate it.
Some people could have done what I have done (I did recommend this share to many people which is against my nature), some people cant. Obviously it helps to start with a bit in the first place, at 64 I was fortunate to have a bit.
You have to work out your style of money management, style of investing, risk tolerance and learn the toughest lesson of all - Run your winners and cut your losers.
The added bonus is that I have met, physically and remotely, some lovely people. They teach me plenty. A few rogues but they mostly sit over at Solgold thankfully.
Finally my thoughts are with TmT and his family.
Apologies for the somewhat self indulgent nature of the post, but Zoros, who I quite enjoy reading, asked.
Sign In
Follow the stocks
