Forum Archive Index - February 2002

["Phil Boeyen" <pboeyen@sharechat.co.nz>]

Hugh

The line in your post this morning  "Its really an attitude problem. People
need to make things happen themselves not rely on others or the government"
brought to mind an article I have just read about the personalities of
millionaires at:
http://money.cnn.com/2002/02/21/saving/q_personality/

In particular the paragraph "Someone with a millionaire mindset is willing
to explore opportunities...Most people become paralyzed by the thought of
taking action. The millionaire mindset is uncomfortable with inaction. Any
self-made millionaire listens for opportunity. The average person listens
for what's wrong and why something won't work."

With that in mind - and at the risk of opening up TA/Fundamental debate yet
again - then surely those who trade are taking action constantly and not
relying on others - such as those who run the companies or set the rules
i.e. government - to make the money for them ?

In reality "action" is a moveable feast - for a longer-term investor
"action" is buying and selling a few stocks every couple of years while that
time-frame reduces to a week or a day for a trader.

Taking a slightly different tack, it's interesting to consider whether New
Zealand Inc. has the mindset of a millionaire.  Are we a country of
optimists or pessimists? Do we seize the day? Is there a master plan? I for
one applaud any moves to get this country to exploit its strengths and take
action to tackle its weaknesses instead of moaning about them. I think we're
getting there although the British legacy of tall poppy syndrome - aka
rising above one's station - will take some time to disappear.

Phil

----- Original Message -----
From: "hugh webber" <hugh.webber@clear.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Friday, February 22, 2002 6:55 AM
Subject: Re: [sharechat] AHH no posts , buying time approaching :-)


> The decline and fall of Western Civilisation and Capitilism has often been
predicted, most
> recently by Brezhnev of the Soviet Union and Osama bin Laden of Al Qaeda.
>
> Its interesting that the problems of the NZ education system and NZ
socialism can
> traced within the tirades against the absence of posts on Sharechat
lately.
>
> My view is that we have a relative absence of attractive buying, a
relative absence
> of news and a static sharemarket in price terms which all make for an
absence of
> posts.
>
> To expect to have all, or even any, of one's posts answered by other
independent
> human beings who are not employed by Sharechat is....breathtaking. (I've
had a number of mine not
> answered over the years but I've managed to avoid a nervous breakdown).
>
> It betrays the presence of the Me/Now generation, the spoon fed people.
>
> As a value investor I expect long periods of "nothing" as my investments
quietly continue making
> profits until the next half year report. That's within my parameters and
I'll achieve my major
> objective at the end of next year just by re-investment of profits and new
savings without relying
> on magical performances from gold, ITC, or commodity stocks like Carter
Holt.
>
> Usually the absence of news is filled by a plethora of "technical" posts
and we had that but as the
> NZSE keeps rolling along in a straight line then even the chartists get
bored with projecting more
> of the same.
>
> Its really an attitude problem. People need to make things happen
themselves not rely on others or
> the government.
>
> And if I was going through education in NZ at the moment I'd ditch all the
NZQA approved turn up to
> class and you'll get a certificate stuff in favour of doing the
International Baccalaureate.
> Degrees in maori Myths and Legends, basket weaving, and in being PC just
won't hack it overseas,
> or, increasingly, in NZ in the future. We can't isolate ourselves in a
long white cloud of cotton
> wool.
>
> Get stuck in yourselves.
>
> cheers,
> Hugh
>
>
>
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