If your me, lets begin this diatribe with a warning. Your going to get busted around the head about what to do, what not to do and how to do it.
This is coming from a place that can very few can come from, essentially death.
I almost bought the big one in February 6 2012 and the first 6 months after that has got to be the hardest I have ever spent on this planet.
The point is I am still not working and together with my allotment of stocks and some state help I am managing.
It will not be until next year when my dear ex-wife will try to pry my daughter from cold wet dead hands that my portfolio really gets a rinsing.
That is surely when it gets to test its mettle.
When its down.
Well so far the portfolio has provided 3 years of income and Ive even managed to BUY one thing - 1000 Contact Energy Ltd for $4.85 and once again it is related to my ex-wife - she works there.
(Watch the CEO Dennis Barnes he's a great guy, I believe he's going to make this company great-the people that are surrounding him, he's got Transpower on his sights.)
Well, when you buy at the correct time - the correct time is not now - you buy value.
When I bought Fisher &Paykel Healthcare in January 2012 it was the right time to buy. It actually got cheaper, $1.86, but at $2.15 I got it. I sort of wanted it to get cheaper than $1.86 but it wasn't going to be.
I watched this stock like a hawk for YEARS, I had aready bought 5000 because I was aware of the quality of the company, but I literally spent years waiting for this stock to become a bargain.
And It did, and it has become one of the rising stars of my portfolio, and looks set to become a superstar in the many years to come.
I wouldn't buy it now. I would wait. It will happen again, the stockmarket WILL tank and there you will be, buying when everyone else is selling. Just remember it will perhaps take years but as long as you have bought a good solid company (Fisher & Paykel didn't even come to the market for cash like a whole host of others did in the Great Financial Crash) it wont matter much.
Cream always rise to the surface.
The last time the stockmarket started to tank was the end of 2008 and it really didn't start getting better until sort of 2011-2012 and it has been blue skys ever since.
I'm not with your Forbes.com though I don't believe we are headed for another head turner, not just now.
The only thing you really need to concentrate on during your seach for that Apple or Google is the possible duds you might collect along the way.
My office romance has been The Warehouse.
It just hasn't made the transition to"just in time" delivery yet. Its STILL trying the thing out. While the competition has entered its earlier mode, the Warehouse really doesn't know where its at RIGHT NOW it doesn't know whether its selling online or to us.
They just haven't got it right during bad times and if you take a look down the aisles of smiles there's not many smiles anymore.
Bye bye The Warehouse Ltd.
You've just gotta keep the original basis of a few stocks FOR LIFE and change them if you really have to - like the WHS.
Stuff like the aforementioned Fisher & Paykel your Auckland Airport, Ryman Healthcare and Mainfreight is stuff I will NEVER SELL. It just continues to add value to itself.
Like others I was more interested in adding value elsewhere - Fisher & Paykel - so I didn't buy more shares in Auck Air, Ryman and Mainfreight but you as an individual identify that one company, tap into it, and ride it for all its worth.
I've got four companies I can truly be proud of, they make a positive difference in the lives of those that work for them and those that encounter them on a day to day basis.
And you're gotta be happy with that.
After all, you only get one chance.
|Toughen Up: What I've Learned About Surviving Tough Times byMichael Hill|
|Think Bigger: How to Raise Your Expectations and Achieve Everythingby Michael Hill|
c Share Investor 2015