Regrets I have a few...4 Oct 2020 06:18
I did know why I started this post. I have forgotten now. Anyways something must have caught my eye so what follows is a snapshot in time of a failed investor.
To begin with I have had 2 life changing opportunities and how many of those does one get? The first was me buying 1 share in Berkshire Hathaway for £550 in the early 80s (I had the money). I was put off the idea by my fathers broker who swanned me about ADRs blah, blah and it was an American OTC stock etc...so i swerved it in favour of buying £4500 of Sads (Ladbroke) shares after they lost their Casino licences at 'nothing money' well sub 50p. Good buy at the time or so I thought. I made a few quid I think and forgot about them.
Over time my decision not buy BH was a big, big, massive mistake, no make that.... a life changing mistake. l kind'a knew about WB's back history (I read his letters to shareholders) but thought 1 share for £550 give me a break....was pretty expensive when I could buy 20,000 shares in some rubbish company. In fact my broker (James Capel) advised me to go and lie down on a desert island until the 'feeling' wore off. Have to say I didnt have the courage of my convictions back then so folded with Aces up my sleeve.
Back in those days (pre big bang'ish) buying shares was almost impossible for Joe Soap. I was lucky as my old man was a client of JC, so i had an intro. I do remember if you asked to buy a non FT 30 share you were left hanging on....er, "hello, are you there, hello can you hear me?" I kid you not. Not the broker for me as I was more interested in dodgy blue sky mining ne'er do wells than Shell Transport & Trading and 'old codger' stocks.
I knew that tracking BH share price was, well forget it even the FT didn't quote BH so their meteoric rise passed me by in a blitz of me punting, er buying flavour of the month FT 30 stocks, Trust House Forte (that was a big winner for me), Trafalgar House, Thorn EMI, Tom Cobley (just joking), bloody hell M&S (I have a 250 cert somewhere, probably worth ufck all) and iffy USM stocks via scammers like Harvard Securities and the junk they promoted.
Years later WB became a household name on the financial pages, a guru of investment wisdom, his BH vehicle zooming ever upwards. Now and again when I wanted to beat myself up, I'd calculate how much money i had lost. I hate to revisit a catastrophic mistake but that 1 share is worth $317,480,00 & change today....and I could have bought 8.....grrrrrr!
I guess the moral of the story is dont be swayed by others. In BH I did, in the second case it was self inflicted.
A life on a desert island with dusky maidens, pina coladas, swimming in coral seas and beach parties went up in smoke through my sheer stupidity that's for another time perhaps..
I post this after most have had their say on RR matters which is as it should be. Might be of interest to some to break up the relentless RR talk. Good morning all.
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