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Re: [sharechat] a cautionary tale?

From: robin benson <>
Date: Tue, 24 Feb 2004 12:28:14 +0000

Hi Stephen

On 24 Feb 2004, at 08:00, Stephen Judd wrote:

> I thought this might stimulate some discussion on the perennial topic
> "when to sell".

"when to buy" is also worthy of consideration :O)

> Here's my tale.
> I started buying shares for the first time in June 2003.
> A month ago I was feeling very clever indeed. My mixture of BCA, DPC,
> POT, MHI, WRI and WHS was up 14% + dividends - not bad for a beginner.
> Today I sold WRI and WHS, anticipating further decline, at a 13 and 15%
> loss respectively. I'm still in the black overall, but not feeling
> nearly so clever.

Why these figures? Did you decide on them from the beginning?

> I'm guilty of having abandoned my own plan, which was to follow the
> maxim "sell if you're confident you can buy back in later at a better
> price".

Pardon my reaction, but that's a pretty loose plan!

> I actually did think that about two weeks ago, and should have
> acted then.

Two weeks ago, as with one second ago, is history. Learn and move on.

> Since I'm still in experimental mode, I haven't committed all that I
> might to the market, so it hasn't been as hard a lesson as it might 
> have
> been.

Sounds like an excellent approach!

> On the menu for investigation: GPG, HQP, FRE, MFT, RNS, PVO, buying 
> more
> MHI should it dip, and learning more about ASX stocks.

My suggestion would be to firm up on the reasons why you're considering 
whether these companies are worthy of your investment, including the 
level at which you will make your move.

Interestingly, as Snoopy's response to your post shows, some would have 
taken exactly the opposite steps to yours. Snoopy picked up a basketful 
of WHS when they hit a low recently and he's still ahead if my memory 
serves me correctly. Personally, I reckon WRI at these levels, 
represents good value for money [1]. For what it's worth, I note that 
other people appear to share this belief [2].

Wishing you well with your investments!

discl. hold WRI

[1] On an FA basis. Phraedrus, however, might have some sage advice on 
the basis of the chart. Have you looked at his writing on TA (on the 
Sharechat site)?
[2] Total of Interest  : 18038601
    Current % held     : 12.968
    Last % held        : 12.288
    Names              : Rural Portfolio Investment Limited
    Provisions         : 5 (1) (f), 5 (2) (b)
    Transaction dates  : 20 Jan 2004

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