Collapse followed by strategy
by, 12th-March-2009 at 09:51 AM (5403 Views)
Following on from the "waffling at Random blog".
After losing virtually everything after the 1987 stock market crash, I stayed long enough to put my affairs in order. Then I left, and only returned to Australia on four occasions in the 20 years that followed.
Having worked away on three other occasions there were no fears and no encumbrances left. As always the answer is "just go".
My first trip back four years later fortunately coincided with a takeover of one of my many crashed investments. Mr Atkins offered 3.5c a share for Endeavor Resources (St Barbara Mines) and advised shareholders not to accept. He was forced to make the offer on buying the shares of the then bankrupt Mr Bond.
I saw a way back and bought as many shares as I could afford. It was a rags to riches story as the stock rocketed upwards not much short of 3 dollars.
After this I decided to remain 70% to 80% in cash or bonds.
Fortunately I've kept absolutely to this rule which is nearly faultless. Sudden falling share prices can suddenly raise the percentage of cash and bonds held, and that's something we learned about in 2008/9.
Good luck in your investments, take care my friends. As my losses in 1987 nearly cost me my life.
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