Forum Archive Index - February 2003

["gooner" <nickk@quicksilver.net.nz>]

Rory

"I am open about the fact I am a novice investor and perhaps I was naive to
be drawn into the security of a blue chip investment ;)"

We all have to start somewhere.  You could do far worse than WHS.

"I have however drawn a number of conclusions from this investment, and
todays fall in particular, which I consider to be of value in the future.
As mentioned above, don't be drawn into the fact that blue chip
investemnts, especially medium growers (which I believed the warehouse to
be) are safe income investemnts".

You said believed (past tense).  Don't be fooled by 1 day.  The WHS has had
years of glowing figures.

"As a student I have academics forcing rationality down my throat, there is
often little rationality in the behaviour of investors (especially when they
see the shareprice has fallen 5%!) - I have been basing my investment
decisions mainly on fundamental reasoning and I think I need to learn a lot
more about technical analysis in order to perhaps avoid todays outcome".

Next time you're in class ask your lecturer how many trades the have done on
futures contracts; or how many times they have short sold the S & P 500 in
the last year; or what their salary was when working at the merchant bank
they since left to become an academic;or better still what techincal
analysis software they use!  My point here is that most academics have never
had a real job and teach 'theory' when the 'reality' is totally different.

"You can read a million books but the real lessons come from practical
experience and if the successes of the people who post here are anything to
go by then there is a lot of experience out there".

Don't let the 'successes' of anonymous people fool you.  People are very
quick to talk about their successes but stay a little silent on their
losses!  Don't stop reading though.  Especially use the websites quoted on
this forum and others (like www.gold-eagle.com).  Hopefully this site will
give you some balance to the proprganda espoused by most others.
Cheers

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