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Is anyone else still working the stock market ?
ASX
- Thread starter dam it
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Is anyone else still working the stock market ?
Dave's Office
Have Detector Will Travel
I keep buying a few extra shares in the blue chips when I think they represent good value, I recently bought another 300 WBC as I think they are ridiculously undervalued, and the returns are very good.
By that do you mean trading, speculating or long term investing.
I don’t do trading as I haven’t got the time or skill to beat the professionals at that game with all the resources they have at their disposal.
Mostly I invest in safe index stocks that represent a fund that owns shares in large numbers of companies of a particular type eg Large Oz companies, (VAS), large tech (NDQ) or International companies (PGF). Much less volatile and safer than owning shares in individual companies.
I also like taking a punt by speculating on cheap start ups in resources or in other fields like medical research. I can count about 5 that I bought that have gone bust but two winners have offset that.
Currently watching gold mining stocks which I heard on the news tonight hit a 7 year low today. Anyone got any ideas why this would be so?
Apparently gold isn't proving a safe haven from current global financial ructions, so investor demand has weakened.
I thought gold used to go up during times of geopolitical uncertainty eg wars like the Russia - Ukraine war and times of increased inflation.
That doesn't seem to be the case today with gold prices relatively static over the last few months.
Reading (googling) some think this could be a case of price suppression by the west to prevent Russia over-profiting from its sale of some of its vast gold reserves to fund its war on Ukraine.
If that is true what happens when the war finishes?
That doesn't seem to be the case today with gold prices relatively static over the last few months.
Reading (googling) some think this could be a case of price suppression by the west to prevent Russia over-profiting from its sale of some of its vast gold reserves to fund its war on Ukraine.
If that is true what happens when the war finishes?
Moneybox
Philip & Sandra Box
Yes dam-it I enjoy dabbling in the stock market. Like Hawkear I've bought a few IPO's that I regret and also a few hot tips that have pretty much gone down the drain. I've recently bought FMG, RIO, BEN and a couple other better quality stocks that are shaping up very well. All my new ones have a trailing stop-loss so they'll all bomb out at some point but all have enough gain that I'll leave with a profit. I've had enough of the cheap and nasty for the moment.
I used to ride the CFD wave up and down. Made a lot and lost a lot but I had a ball. I find trading the commodities futures the most stable but steady income.
I used to ride the CFD wave up and down. Made a lot and lost a lot but I had a ball. I find trading the commodities futures the most stable but steady income.
There is always much speculation about gold, but although Russia has a fair amount relative to many countries, if they cashed in every cent of it overnight the world would hardly notice. I think it would finance the war in Ukraine for about 7 days. But no one has to keep the price down because its holdings are insignificant (Russia's total reserves are only about 6 months of annual World mine production) and (b) it is illegal for anyone in the USA or EU to buy gold bars cast in Russia under sanction laws at present.
The amount the Australian government budgeted for Jobkeeper (although they only spent half of it) s about equal to the value of Russia's gold reserves if fully sold at present.. Russia is not a wealthy country....
The gold price has been fairly steady for some time.
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Moneybox
Philip & Sandra Box
There are two ways to look at the gold price. If you are trading gold futures then you are dealing with the US gold price. Alternatively, if you are selling your gold here in Australia than you are trading in AUD and that is corrected by the value of AUD vs USD.
Dave's Office
Have Detector Will Travel
I think it's whatever floats you're boat with investing, I started off playing the punting game with cheap mining shares but it's like betting on racing, the bookies always get your money eventually. Blue Chip stocks that pay good dividends are my only investments these days and having been self employed for all of my adult life I never had super, I put any extra money in to real estate which turned out to be the best investment I could have made.
Teemore
One foot out the door
Love stocks with a DRP, slight discount price and compounding effect is great. Best buy NIB at launch @ $0.80 been better than $7.00 but hanging just below that recently.
Moneybox
Philip & Sandra Box
Yes, went short on CBA a week ago but so far it's not playing the game
