Doomberg
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Ok so spend most of my time in Spain and when i am here im next door to a friendly Irish lady... she's a bit older about 60's and doesn't have a job as such, she mainly just sits poolside with the radio on, with no worries (lucky swine) lol. I suppose her job title could be classed as 'full time trader'.. Now i hate to criticise people but my god does she make some bad decisions.
Basically here's her situation, her dad was wealthy and passed away around 20 years ago and left her with millions of shares in many sectors. Over the years she has done her own thing without any advice, just sells when she thinks its a good idea and buys when she feels its right. We often have a chat and when i found out she also has an interest in the Stockmarket we got chatting about her portfolio... and over her 20 years of having control of it, instead of profiting she is down to about 2% of the original portfolio :-0
Now im no Warren Buffet but i like to keep updated with whats going on... Anyway we had a chat in early december about the different shares in her portfolio and one that springs to mind was Allied Irish Bank... as she mentioned she has literally millions of these as well as Bank Of Ireland shares, i have been following the Irish markets recently... Now everyone knew that ALBK was going to be nationalised, and when for some insane reason it hit over €0.50 on the 8th of December i said "Hey i think it'd be a good idea if you sold your ALBK shares as they wont be 50c for much longer, they will be nationalised and will drop massively in value, although you may want to buy back in at rock bottom?"
Anyway she was like "no its the wrong time to sell, they will go back up" so on this occasion i was right, they currently stand at €0.22 and i can't see them rising any time soon, i feel really bad for her as she has a lot of money in them, but at the end of the day its her own fault for trying to trade blind, her only source of info is Bloomberg or Doomberg i like to call it lol, hence the username 😆
Now the portfolio she was left by her father sounded healthy, a full spectrum of all different types of stocks to minimise risk...
But to turn your 100% original portfolio in to 2% how bad would you have to be?
No matter how bad she does she'll be alright but its never nice to see people do badly, i hope she has some Irish luck soon :clover:
Whats your views on this?
Basically here's her situation, her dad was wealthy and passed away around 20 years ago and left her with millions of shares in many sectors. Over the years she has done her own thing without any advice, just sells when she thinks its a good idea and buys when she feels its right. We often have a chat and when i found out she also has an interest in the Stockmarket we got chatting about her portfolio... and over her 20 years of having control of it, instead of profiting she is down to about 2% of the original portfolio :-0
Now im no Warren Buffet but i like to keep updated with whats going on... Anyway we had a chat in early december about the different shares in her portfolio and one that springs to mind was Allied Irish Bank... as she mentioned she has literally millions of these as well as Bank Of Ireland shares, i have been following the Irish markets recently... Now everyone knew that ALBK was going to be nationalised, and when for some insane reason it hit over €0.50 on the 8th of December i said "Hey i think it'd be a good idea if you sold your ALBK shares as they wont be 50c for much longer, they will be nationalised and will drop massively in value, although you may want to buy back in at rock bottom?"
Anyway she was like "no its the wrong time to sell, they will go back up" so on this occasion i was right, they currently stand at €0.22 and i can't see them rising any time soon, i feel really bad for her as she has a lot of money in them, but at the end of the day its her own fault for trying to trade blind, her only source of info is Bloomberg or Doomberg i like to call it lol, hence the username 😆
Now the portfolio she was left by her father sounded healthy, a full spectrum of all different types of stocks to minimise risk...
But to turn your 100% original portfolio in to 2% how bad would you have to be?
No matter how bad she does she'll be alright but its never nice to see people do badly, i hope she has some Irish luck soon :clover:
Whats your views on this?