Wednesday, August 22, 2012

Is he really OK ?

Stock Market Crash 1929

Ive got a little time on my hands so let me begin with this, I wont be getting rid of my portfolio. I have gotten rid of 3 losers and am perhaps gonna jettison up to two more for the exact opposite reason - they have both returned more than 200% - so the portfolio is going to drop in value by less than $5,000.00. This is around 1% .

Ive got a $35,000.00 overdraft and $23,000.00 coming from dividends and so far in August got just over 1k in work, so should be right.

Just in case you don't know about me or my portfolio im 46, married with a 3 year old girl and had a stroke in February and have been recovering - fast - since. The bulk of the portfolio has been going since 2002 and has done well so far being up by over $100,000.00.

The bulk of the portfolio is up but there are a few losers but none of them long term, the Warehouse and Fisher and Paykel Healthcare, and I cant say more about the last one, $1.95 at time of writing and by my reckoning one the future leaders on the NZX. Well run and grows every year the only "holding it back" is the value of the kiwi / US. Its all been in the kiwis favour the last 4 years but that will not last for ever, until then buy if you have any spare shekels. On the first you have the last 2 leaders, I believe we now have a leader that can grow sales and profit and he is putting our money where is mouth is so he better be sure, he can do it.

I have spent much time arguing over the merits of each stock here and have been wrong 3 times (see above) and consider that a good sort of mark to start from. Of course if I change my mind on something you will be the first to know.

I haven't bought anything new, really solid company's with good earnings and potential to do better are order of the day and all of them are achieving that except for a couple that have been through a temporary lull Pumpkin Patch ,Steel & Tube and the Warehouse will once again be ripe with pickings.

You wont be surprised that I left off a couple of stars Mainfreight, Ryman but they have done well and do for the future and Hallensteins and Briscoe Group are two retailing delights.

The rest is really just time and of course love and having enough of each one to keep the other going.

Oh and the fact that you cheated death and lived to tell the tale!

Steve Jobs
Steve Jobs Biography - By Walter Isaacson

c Share Investor 2012