Solly it is of course the
GF Oh Baby!
This is once in a generational thing.
Currently I'm about 85% invested in my long term buy and hold portfolio which make up about 80% of my share market investment funds. (The remainder is waiting for our market to have a corrective pattern or used for trading purposes.
Currently I'm having fun writing puts across the portfolio in the last couple of days (because I think the negativity we have seen will a) lead us down to around the 3400 points or b) form a triple top at 4105 before going down to the 3400 level), and I want to make some dough in the interum. When we hit 3400 ish this will be the last gasp to invest at these levels again and positively gear portfolio's before we hit 5100 points. My expectation is that we will then see some consolidative movements over the next two to three years in consolidative patterns as either double or triple tops, with some ongoing potential for corrective patterns towards 4500, before we reach the old highs in our market between four to seven years away.
But opportunity or disaster is totally a matter of perception. I took a phone call from my brother-in-law the other day complaining that he has a large tax bill for '07-'08 caused by CGT in PES, SHG and QGC and he had no losses in other areas of his portfolio to offset. Sheesh So here's a guy complaining that he made a lot of money in one of the worst performing markets in 20 years and he couldn't see the problem with that. (I told him to fix his problem with a large donation to charity and think about what he was complaining about).
Someone's disaster is someone else's fortune.
Cheers
Sir O
