Australian (ASX) Stock Market Forum

Sell Everything

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How about TLS.
Every expert was watching it saying it was a dead dog.
The worst was what David Murray did to us all.
He screamed the stock down from the top of Kosiosko, got the board sacked, then watched it tank, then sold it out of the future fund.
That was one of the most stupid things I have ever seen and I said so at the time.
The result is on the board as to what TLS has done since.
I guess being unemployable and academically retarded makes you better qualified than our most qualified, perhaps I should ring Swany and ask if I can run the futurefund.
OK I'll see if I can do better from this point as well.
Hmmmmm what would I do first?
Nothings coming, but DJs did flash into my head over the weekend, without any interest from my conceptualisation or speculative contemplations, it was just rising up.
That seemed interesting. I actually forgot about it till just now.
OK, I'll buy that if it comes back to 2.22 on declining volume.
QBE for a medium ill take that now.
NAB for Longer if the cliff can give me a bit of a discount from here.
Clearly not a cat person.
 
notting said:
How about TLS.
Every expert was watching it saying it was a dead dog.
The worst was what David Murray did to us all.
He screamed the stock down from the top of Kosiosko, got the board sacked, then watched it tank, then sold it out of the future fund.
That was one of the most stupid things I have ever seen and I said so at the time.
The result is on the board as to what TLS has done since.
I guess being unemployable and academically retarded makes you better qualified than our most qualified, perhaps I should ring Swany and ask if I can run the futurefund.
OK I'll see if I can do better from this point as well.
Hmmmmm what would I do first?
Nothings coming, but DJs did flash into my head over the weekend, without any interest from my conceptualisation or speculative contemplations, it was just rising up.
That seemed interesting. I actually forgot about it till just now.
OK, I'll buy that if it comes back to 2.22 on declining volume.
QBE for a medium ill take that now.
NAB for Longer if the cliff can give me a bit of a discount from here.
Clearly not a cat person.
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Actualy if nab got rid of the current ceo with his preocupation with british banks I reckon they would soar from their present level. Until then I won't touch them.
 
Bill M said:
I really don't know what to say Brian other than these jokers make me sick. Just goes to show, those so called super intelligent, well educated, get it wrong most of the time. The worst part about it is they sucker people into buying their newsletters, maybe that's what it's all about. Shame on them.:(
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Not sure where anyone would get the idea that Kohler et al are super intelligent or well educated. Aren't most of them journalists who have drifted into commenting on financial matters?

This evening ABC Local Radio had a program on financial forecasts with a panel of guests. One of the guest "experts" was Ruth Ostrow, a journalist with no particular qualifications who usually does a rather esoteric lifestyle/sexual commentary piece in the Sunday papers. Why she should be enlisted as qualified to comment on financial matters is beyond me, but that didn't stop her and various others making utterly silly pronouncements.

Anyone who puts their faith (and money) in what any of these people say is their own worst enemy.

Heavens, even most of the country's best qualified economists get it wrong much of the time.
 
Julia said:
Not sure where anyone would get the idea that Kohler et al are super intelligent or well educated. Aren't most of them journalists who have drifted into commenting on financial matters?
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Kohler and his partners at Business Spectator sold out to News earlier this year for a reported 25 million, i don't know how intelligent or well educated he is but i do know he's rich.
 
nulla nulla said:
Actualy if nab got rid of the current ceo with his preocupation with british banks I reckon they would soar from their present level. Until then I won't touch them.
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Clyne inherited the E banks and from what I can see, he hates them.
They are a pittance compared to the size of the rest of NAB.
The whole thing is overplayed by the exact type of big dick buisness wankers we are discussing here.

Stupid thing is everyone seems to just agree with them.

I actually like Cameron.
He's just a practical no nonsense bloke.
OK, Mike Smith is a visionary and is really taking a shot. Which is gutsy and admirable given it's backed by intelligence and he's doing it in an organic way. So he's my favourite. He's funny too.

If you don't have that creative vision, then just run what you do have well, don't try to force growth in over crowded markets like the pre Clyne NAB CEOs who all did that and just made a mess.
Know your strengths, play within them and it's amazing how things will work out, when you are a well regulated busness in the best economy in the world.

NABs my pick. One good reason is that no one els is picking it and everyone is saying "Oh the banks have no growth prospects." Gimmy a fricken break.
What, we are going into a recession?

UK isn't doing all that badly relative to Euroland and even that is becoming fashionable for today.

I will go for NAB with eye watering leverage if the stars lines up.

Bull markets:rolleyes: they are just so stupid, but one thing I’ve learnt is that when stupid starts it's the most unprofitable time to be intelligent about it.
 
So_Cynical said:
Kohler and his partners at Business Spectator sold out to News earlier this year for a reported 25 million, i don't know how intelligent or well educated he is but i do know he's rich.
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+1 dont need to be highly educated to know about money, all common senses really.
How and why they get there doesn't really matter, what matter is that they got there.

Most the people I know has no financial education background yet they acquire a fair bit of wealth.

For most people economy and money is just common senses what made it complex is not the topic but the people :)
 
So_Cynical said:
Kohler and his partners at Business Spectator sold out to News earlier this year for a reported 25 million, i don't know how intelligent or well educated he is but i do know he's rich.
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Lucky.

Guess we leave the softer title of unlucky to those who read it, as they sell everything at the birth of a bull market.
I guess it's a kind of service.
We need someone to buy from!

Yet another great NWS purchase to add to it's repertoire of community services.

Better go up date My Space. Kermi is courting.
 
Unless a meteor heads towards earth selling everything is just dumb. Certain stocks can still deliver even in bear markets. All about diversifying.
 
willstor said:
Unless a meteor heads towards earth selling everything is just dumb. Certain stocks can still deliver even in bear markets. All about diversifying.
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And that's a rather dumb generalisation. There are circumstances where cashing out before it all turns to chaos can leave you in the better position.
And I'm somewhat puzzled as to why a meteor heading toward earth would, in your view, make it appropriate to sell everything. Pretty weird thinking all round.
 
Watched the classic old movie "its a wonderful life" this afternoon...great show, one of the classic scenes is the run on the bank scene..later the old rich guy potter is gloating about how he was buying at 50c in the dollar while the panicked masses just wanted to sell at any price.

Got me thinking that during the great market sell off in the GFC its was the non panicked that actually come out in front (to a large degree) the people selling everything near the bottom lost out to the people buying everything, someone was on the other side of all those trades, the comfortable, non panicked.
 
So_Cynical said:
Got me thinking that during the great market sell off in the GFC its was the non panicked that actually come out in front (to a large degree) the people selling everything near the bottom lost out to the people buying everything, someone was on the other side of all those trades, the comfortable, non panicked.
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That's rather a coloured description isn't it? I know you love to justify your own position, as probably do most of us, but let's remember that the market is still very substantially below its preGFC high. So people who went to cash when the GFC began, protecting their capital, are still likely to be ahead of those who stuck with the downward trend and are still waiting to get back to where they were. Obviously there will be stocks that will be excepted from this.
 
Julia said:
That's rather a coloured description isn't it? I know you love to justify your own position, as probably do most of us, but let's remember that the market is still very substantially below its preGFC high. So people who went to cash when the GFC began, protecting their capital, are still likely to be ahead of those who stuck with the downward trend and are still waiting to get back to where they were. Obviously there will be stocks that will be excepted from this.
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Sure but the people who sold at the start are in the minority, im talking about the transfer of wealth that happened at the height of the panic, stocks selling for less than cash backing etc, liquidation at any price as an expression of fear and panic.

I was very new to the scene back then and i thought that i was safe being mostly invested in gold stocks, big picture i was right and had picked the right trend to back but in the short term the gold stocks got smashed too, my portfolio value fell by about 45% and yet i held and continued to buy into the carnage.

Myself and many others saw compelling value, opportunity to profit down the line in spite of the near overwhelming fear that the media and markets projected...i was afraid a little and certainly had doubts and was stunned by the prices and falls that were taking place.

Contrarian investment in general is something that only a small minority can do with conviction.
 
Julia said:
And that's a rather dumb generalisation. There are circumstances where cashing out before it all turns to chaos can leave you in the better position.
And I'm somewhat puzzled as to why a meteor heading toward earth would, in your view, make it appropriate to sell everything. Pretty weird thinking all round.
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No it's not. If you hold a selection of stocks from various sectors in profitable companies paying dividends you don't need to sell everything. Ever. When I invest in shares I have an entry and and exit strategy, however if I bought a stock that underperformed I am more than happy to hold for as long as it takes to make money - if that means the grandchildren get the spoils then so be it.

To sell everything is to take a gamble that the market will fall heavily in every sector. If you can accurately predict that then, well...
 
So_Cynical said:
Sure but the people who sold at the start are in the minority, im talking about the transfer of wealth that happened at the height of the panic, stocks selling for less than cash backing etc, liquidation at any price as an expression of fear and panic.

I was very new to the scene back then and i thought that i was safe being mostly invested in gold stocks, big picture i was right and had picked the right trend to back but in the short term the gold stocks got smashed too, my portfolio value fell by about 45% and yet i held and continued to buy into the carnage.

Myself and many others saw compelling value, opportunity to profit down the line in spite of the near overwhelming fear that the media and markets projected...i was afraid a little and certainly had doubts and was stunned by the prices and falls that were taking place.

Contrarian investment in general is something that only a small minority can do with conviction.
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I remember this time well. I was heavily invested in the big 4 banks. All of them did capital raisings that were well under the market price, I took the lot, as much as I could get. I had one friend who had some CBA and asked me what to do. I told him that I would buy as much as I could, he said he didn't have any money. I said to him ok, what you can do is sell CBA at todays price of $29 and buy back from the capital raising the same $$ amount at $26. He sold all of CBA at $29 and didn't buy back at $26. He was that panicked he made a bad decision. I don't need to tell anyone where CBA is today.:D
 
willstor said:
...To sell everything is to take a gamble that the market will fall heavily in every sector. If you can accurately predict that then, well...
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To buy or hold is also a gamble. For those that are yet to realise this, unfolding events will make my meaning increasingly apparent.

As for end of days scenarios, there is simply no upside to selling if it's the end of human life on earth because you won't be alive to benifit from the salvaged capital! I believe that was what Julia was driving at when commenting on your earlier post.
 
cynic said:
To buy or hold is also a gamble. For those that are yet to realise this, unfolding events will make my meaning increasingly apparent.

As for end of days scenarios, there is simply no upside to selling if it's the end of human life on earth because you won't be alive to benifit from the salvaged capital! I believe that was what Julia was driving at when commenting on your earlier post.
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Buying and holding a blue chip stock is not a gamble at all.

If it's the end of human life sell up and get drunk ;)
 
willstor said:
Buying and holding a blue chip stock is not a gamble at all.

If it's the end of human life sell up and get drunk ;)
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Let me see now, HIH, Lehman Bros, Enron, World Com, Freddie Mac, Fannie Mae, GMH. You would of course agree that these were all blue chip stocks once upon a time, wouldn't you?
 
willstor said:
Buying and holding a blue chip stock is not a gamble at all.

If it's the end of human life sell up and get drunk ;)
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HIH was regarded once as a blue chip, its gone. And all the advisers were saying Great Southern Plantations, gone. Blue Scope Steel another, nearly gone.

Rio Tinto used to be over $120 per share, Macquarie Bank over a $100, Telstra $8, even NAB towards $50, dividends sure but when you have lost that much ? hey, and they will probably never return! whewh.

they were saying Fortesque Metals was one when hitting $14 per share (not long back either), look at them now.

The days of just casually buying and holding blue chips are far gone.

The world scene is very dodgy at the moment and in my view the wise will be sitting on the sidelines in cash and probably pick up some bargain blue chips off the cutters floor too.
 
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