Trader Profiles

[TjamesX]

Come on! Really! I have over $70k in the stock market and given that I have a massive mortgage, I am not comfortable with losing any of it...The only reason I have it there is because I BELIEVE that I can get a higher return out of this than the 6.55% interest I pay on my mortgage...and that is an after tax return out of the market. So far I am proving myself right - but so would anybody in the current climate of the ASX.

FLEETA!!! look... you weren't meant to take it literally!!!!

Alright I did put it very badly, no one's going to lose every cent. What I was trying to get at is, I wouldn't invest money that you need for any particular purpose or money that has a short/medium time frame attached to it (ie investing funds that are needed for childrens education THIS year). For me it takes the emotion out of it - I try to distance any feeling I have towards that money. Accepting/understanding that it may all go, while extremely extremely unlikely, helps me view it in that context.

So after sounding extremely risk averse initially - I actually have 90% of my cash in shares

BUT: I still remember my first share investment 8 months ago... ION. Could have been a lot worse than the 8% loss I took

 

[Fleeta]

Oh no, you lost 8% - I lost 100%, I still hold ION shares - and I am praying that they give me the green light for a tax deduction in the current year!

 

[TjamesX]

NO don't do that....

Save the deductions for the year you sell NMS!!! you gonna need every tax deduction you can get your hands on for that one... :

 

[Fleeta]

If I listen to Baglimit I will probably never sell NMS...and besides I have already realised some big gains this year.

Selling NMS is an interesting dilemma, cos I still have to wait until October to get the CGT discount, but if it keeps falling, I want to get out...i'm hoping this isn't a big conspiracy and share price goes back to 20c.