Forum Archive Index - February 2003

["Rory Macewan" <macewarory@student.vuw.ac.nz>]

Thanks Gooner,

Some great advice there...

---- Original Message ----
From: nickk@quicksilver.net.nz
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] WHS Chart
Date: Wed, 5 Feb 2003 21:29:27 +1300

>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
>
>Gooner>
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