Teenager Investing

tech/a said:

Well I'm going to add something a little different to those suggestions above.

As Sir O says CURRENTLY you have limited options.

BUT.

I've found that the LIFE CHANGING money comes from being in front of the Right Train at the Right time.

Now I know Sir "O" found one ---it cost me $500 to find out!

With all the advice above you should position yourself with the knowledge of what to look for.
That would be Economic Knowledge.
EG How to identify when GOLD is really Cheap A few years ago it was $250/oz
When Gold is really expensive and likely to tumble.
Same with Oil/Currency/Stock---any stock---
Property---when it was so cheap you could borrow 100% and rent it for profit
Like it was in 1996 when I just kept buying as long as the bank gave me money!!

Your young enough to see many many of these opportunities come by in your lifetime.
Things that NOW seem impossible will return.

WHEN THEY DO
Be armed with understanding RISK---mitigate it--if you cant control it then dont do it!
Understand how to take advantage of the opportunity and then go for it!

Recognize opportunity
Understand how to take advantage of it.
JUST DO IT!

That goes for you not so young ones as well!!!

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Are you a closet value investor Tech/a

Good post – applicable to so many methodologies.

craft said:

Are you a closet value investor Tech/a

Good post – applicable to so many methodologies.

Click to expand...

Opportunist.
There are just so many.
But the really life changing ones hit you in the face.
They freeze most into paralysis because you have to go against a strong grain
to capitalize on those opportunities.
When I sold all holdings in 2008 most thought I was an idiot---infact I was----I didnt short every index with everything I had.

Same with housing Friends thought I was playing monopoly.

Truth is that recognising opportunity generally isnt that hard.
Knowing what to do with it cuts the field down a fair bit.
Doing it is the hardest of all---and doing it to the extent that it is life changing is as rare as that rocking horse stuff.

tech/a said:

Well I'm going to add something a little different to those suggestions above.

As Sir O says CURRENTLY you have limited options.

BUT.

I've found that the LIFE CHANGING money comes from being in front of the Right Train at the Right time.

Now I know Sir "O" found one ---it cost me $500 to find out!

Click to expand...

LOL - I remember that - Love the CSG stocks! Some of the most profitable trades I've ever done and because I was writing the Newbie thread at the time and was intending to move into TA and didn't want to bamboozle the noobs with technical jargon. I used the phrase "bottoming features" or something and you called me on it saying that I was full of it and you were willing to bet $500.

I was livid with you calling me a liar; I called you a toxic something or other, told you to go do something unnatural to yourself, screenshot the trade statement and said give the $500 to Joe.

Good times. Glad it's all water under the bridge now Tech and if I haven't said it before I do apologize for losing it at you at the time.

It's all a bit funny now in hindsight, but my track record for catching that kind of outlying event is pretty good. I've had an 800-1000% return trade about once every 18 months since 2001.

*Enters Memory Lane*

Ahh you always remember your first It was Minotaur Resources in early '01 original purchase 7.5 cents after AMP popped up on the significant holders register. Spent $6K on it (which was a dangerous position size given the size of my account at the time). Announced a 50:50 split deal with BHP (when ususally BHP does the "we will fund development if you find something commercial but we're taking 80% of the result" kind of thing) and baby I could just smell the money at that point, shares moved to 17 cents and the temptation to take profit was causing sleepless nights.

The following day they announced they'd discovered the next Olympic Dam. Stock closed on the day at $1.65 with a high of $1.70 for the day. A 1000% day! Mind you this was my first so I had some issues with premature excitement and bailed at 90 cents.

I made 65k on that trade, took a $200 bottle of French bubbly home to the missus and paid off half the mortgage.

As Tech said...life changing.

Cheers

Sir O

Great job Daniel. Best of luck in future.