Hey Mark, my path is slower, my plan was to add 20K max ISA allowance for 12-15 years, if getting compounded combined growth at 16%, (Growth and Dividends) this gets me to a million in 15 years. So far so good as doing quite a bit better than 16%, especially jumping in on the lows this year. AMGO aside am not sure we’ll have another chance like this for some time.
Two recent high risk stocks here were AML and AMGO, I dithered with AML as it was making loses, and would have been a short term and maybe even emotional buy, ended up opting out as the gains had already been reasoned. I see similar risk levels with AMGO, but it’s historically profitable with cash is the bank. I didn’t get in as low as some, nor as high as others, for me it’s not worth worrying about prices below the mid teens, that’s for the day traders, but win or lose I am still in and will hold unless a huge jump is seen in the meantime that makes it worth it to take profits.
Each to their own, I paid into ISA for 8 years now as well as maxing out injections my SIPP so feel I’ve already built up a substantial Value and operate differently, I keep 10% cash for opportunity, after which I divide between stable, growth and risk stocks. In the risk area I figure 4/5 will fail but the one that hits home will make up for it all. Until Covid my portfolio was tracking at 12-18% pa, for 2020 I’m Hovering around 38%. If amgo hits home it’ll be 50%+ assuming no other impacts. (Which surely will be). I’ve kept this in my ISA to avoid SIPP LTA, my stability is MOSTLY in my SIPP. Not yet knowledgeable / comfortable enough to deal in shorts
800K more shares sold then bought today, spread now thinner again after the 1% wasn’t before. This is rinse and repeat, daily and weekly - I predict it will go lower before going up. A MM and day traders dream!
These are the 3 most powerful things that I see in life. 3. Knowledge 2. Wealth as it can buy knowledge and the top 1. Craziness - as no one who’s knowable or wealthy wants to take on. Now some people have all 3... I think that’s the case with AMGO. It could go ANYWHERE.