Now let's have a reality check here: I don't think anyone would be buying BHP for its dividend at about 3%. I merely made mention of it in comparison to what deposit rates are likely to be very shortly.
Another reality check: I'm doing this with a very small proportion of my capital, such that I'd be entirely happy to keep in BHP for the next couple of decades. Most of it will remain unprofitably tucked away in the bank.
I'm very conservative but believe in these times we need to be prepared to look outside our traditional views and practices.
And thanks for the good luck wishes (whether sincere or not). I've never been much of a believer in luck actually, and doubt that it was luck that allowed me to be self funded many years before most people are starting to think about retirement.
And btw, nun, what's your own survival strategy in these times?
Julia, you say you DON'T believe in LUCK, we went to the USA 26 June, sold up our WPL at $55, our dollar was about 92c to the US, came home three months later to see WPL way down, and our Dollar down, LUCK is a big part of trading I believe. Our money is in the bank getting only 5.55% and 5.75%, but we still have all our money. You think things are bad here go the states and see how bad things are, we are VERY VERY Lucky to be living here.
And thanks for the good luck wishes (whether sincere or not). I've never been much of a believer in luck actually, and doubt that it was luck that allowed me to be self funded many years before most people are starting to think about retirement.
And btw, nun, what's your own survival strategy in these times?
I also hold property but thats for another thread
Perhaps, wouldn't want to fill this thread with all those opinions. But property is a very interesting subject. Is property better than cash?
Is your property for pure investment? Or is it your home/home investment?
I've made my decisions there and sold not long ago. Not at the best time either, was in the middle of advertising when the s--- hit the fan.
Now,.... that decision was hard.
The propertys i have remaining have all been previous homes
i am in a different position to those that want to invest now up here as my property owned is with a negligable mortgage which was actually only got to further a small development in southern tasmania
as far as property being a better current investment than cash ??
i think NO , not currently
but for me and the returns to purchase price paid and capital growth to that purchase price .definately outperformed
i also have sold property within the last 12 months and yes with the exception of some riverfront blocks i had , it was definately no picnic and took a 20% discount to my original asking price just to get it gone
An interesting thought which you no doubt have considered:
Are your houses that much different to Trevor_s's BHP or WBC.
All purchased a long time ago?
Does it?Hubris; Excessive pride, presumption or arrogance which usually leads to the downfall
3 years... in a term deposit
when you decided to do this, did you consider the alternate at all?
how things may turn out in the future, if what you have predicted are not correct?
Pilots, obviously you meant to include "don't" in your initial sentence.Julia, you say you believe in LUCK, we went to the USA 26 June, sold up our WPL at $55, our dollar was about 92c to the US, came home three months later to see WPL way down, and our Dollar down, LUCK is a big part of trading I believe. Our money is in the bank getting only 5.55% and 5.75%, but we still have all our money. You think things are bad here go the states and see how bad things are, we are VERY VERY Lucky to be living here.
Let's remember that MR can always break the term deposit, forfeiting some of the interest.Hubris; Excessive pride, presumption or arrogance which usually leads to the downfall
3 years... in a term deposit
when you decided to do this, did you consider the alternate at all?
how things may turn out in the future, if what you have predicted are not correct?
-I'm not saying that you are or arent correct.
Interesting. The market continued to rise until about November of that year. Can you say a bit more specifically what 'writing on the wall' in March prompted you to sell in a rising market?i got luckyin march 07 when seeing the writing on the wall and shifted from stock to majority cash
Does it?
No... fly by the seat of my pants.... thats why it is going to return 5.5% Government Backed and sleep soundly at night.... Ofcoarse I did!
Ahhh "we wouldn't want to be left behind now, would we"
Is that not exactly why so many people are and will be in finiancial trouble!
Your remark can be used in so many contexts as well. Why make any decision (for it could be wrong) Funny how a simple 3 year term deposit is of such concern of "losing money". So this money could have been better spent? Maybe! What are the answers then?
Not buying the yen is my only real regret of late. I really do not think locking into a term for 3 years is going to be one of my worst regrets in the future. Remember it is 40% not 100%. Perhaps my regret will be not locking more in???
Perhaps by keeping the rest "liquid" (the 60%) "in a cash deposit account" sets you ready for a pounce as which most seem to agree with. And thus why 40% is in not 100%
And if there is a clear recovery, and he judges he can derive more profit from investing/trading then he can choose to release the money.
i have never queried why or how on his holds and actually can see why he is no rush to let go of WBC regardless of how high its been as others have pointed out everything wrong wih him holding but neglected to mention his tax implications if he sold.
Interesting. The market continued to rise until about November of that year. Can you say a bit more specifically what 'writing on the wall' in March prompted you to sell in a rising market?
I seem to have a tremendous amount of speculation with regards to Property and Shares and think times will be better for buying these assets at a later date.
Clearly you're being sarcastic. I don't think there would be a single person on ASF who would claim they always sell at the very top and buy at absolute bottom.Yes i definately missed the cream of the top and really regret not being as good as most here who seem to buy at the very bottom and sell at the very top
Thanks for explanation. As you say, pity more didn't follow your example.my reasons for selling was because of the influx of hype , parabolic trends and the fact that every man and his dog reckoned the stock market was a guarenteed win situation .LOL ......my reason for selling probably very diffrent to your reasons but either way im happy i excited where and when i did as i live to play againunlike some of the more unfortunate newer bright eyed bushy tailed punters that thought markets only went up
I think most of us are just trying to have a constructive discussion here. I'm unaware of anyone who has claimed to have a superior strategy or to have sold at the top, so I'm not sure that sarcasm really furthers anyone's knowledge or understanding.again im glad so many were able to sell at the very top unlike myself and have placed a stickitt note on my screen to become a better trader/investor so i can keep up with others here
have a niceday
Thanks for explanation. As you say, pity more didn't follow your example.
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