Not another newb

[chuk01]

Hey,
I'm very fresh to the stock market and have only a few months of experience in reading up on how everything works through books, news and watching your money on sky business channel. I am someone in my mid 20's that has started putting money into a high interest savings account (5.6%) and when ready put together a portfolio ranging from blue chips for long term investment and some mid caps for a higher capital gain in the mid term to try and put together enough for a significant down payment. I work in the mining services sector and can see first hand how bad we are doing at the moment due to obvious reasons in the economy. Being involved in the mining sector I find it hard to shy away from such investments even though I realise the volitility at the moment.
I would like to know whether the experienced folk in here believe that as someone stepping into the market, would it be wise to take advantage of such a crash in the market by buying up now, or waiting for things to start heading on up before trying my luck. Should someone like me wait until everything has settled down or am I wasting a great opportunity.
Maybe if some of the experienced people in here share their experience or journey through the rocky road of shares from their beginnings to now?

Thanks for your time!

 

[So_Cynical]

Hey,
I'm very fresh to the stock market and have only a few months of experience in reading up on how everything works through books, news and watching your money on sky business channel. I am someone in my mid 20's that has started putting money into a high interest savings account (5.6%) and when ready put together a portfolio ranging from blue chips for long term investment and some mid caps for a higher capital gain in the mid term to try and put together enough for a significant down payment. I work in the mining services sector and can see first hand how bad we are doing at the moment due to obvious reasons in the economy. Being involved in the mining sector I find it hard to shy away from such investments even though I realise the volitility at the moment.
I would like to know whether the experienced folk in here believe that as someone stepping into the market, would it be wise to take advantage of such a crash in the market by buying up now, or waiting for things to start heading on up before trying my luck. Should someone like me wait until everything has settled down or am I wasting a great opportunity.
Maybe if some of the experienced people in here share their experience or journey through the rocky road of shares from their beginnings to now?

Thanks for your time!

You will get a variety of responses (as you prob already know) and the truth will lie somewhere in-between the extremes....personally i am salivating at the opportunities opening up, mostly salivating because i actually have some money available thanks to the new/rival takeover offer HDF received yesterday.

Chuk could you actually see your self buying into a falling market? comfortable with that? or feeling a little Queasy?

 

[burglar]

I started when I was young.

Along came a car, a family, and a "Principal place of residence" (PPOR).
I put off plans to dominate the financial world.

But now I am back.

 

[CanOz]

Chuk could you actually see your self buying into a falling market? comfortable with that? or feeling a little Queasy?

Well Chuk, there one thing you don't have to worry about that most Newbie's do first thing..and that's buy at the top!

CanOz

 

[StumpyPhantom]

Hey Chuk, if you're in the mining sector and you describe it as 'how bad things are at the moment' then take your cues from that. Because there's daylight between the mining sector and the rest of the economy.

But you will be surprised to hear that we can learn from you rather than the other way around.

Feel free to drill down (so to speak) into why your first hand experience says it's so bad out there, and we'll take our cues from you in order to respond.

If you're going to invest/speculate/gamble, then it's best you do so with some actual knowledge based on your work, and hopefully we can tease that out from the detail you provide.

None of us living in big cities can tell the difference between RIO and BHP most of the time, but if you're out there on the ground then you may well pick up some gems (literally) to help the rest of us with our investment decisions.

For example, you may pick company A out of a dozen that you know which you think is operating really well, yet its SP has fallen 50%. That's where posters here can give you an opinion whether, on the figures they see, the fall is warranted or it's just oversold.

So go ahead, tell us a story!! We're all :bunny:

 

[burglar]

...

So go ahead, tell us a story!! ...

A long time ago, the nephew of a friend of a relative of mine, was working on a drilling rig.

Everytime he came to Adelaide he told us that every hole was good.
We dismissed this as inane banter.

One day the newspaper headline says "2000% rise in one day".
Turns out to be Minotaur Resources and their discovery was Prominent Hill.

The nephew of a friend of a relative of mine, was working on a drilling rig there!!