Interesting week, Santa rally decimated, BHP close to $15, who would have forecast that!
Remembering there are two types of forecasters those that don't know, and those that don't know they don't know yet! I can't remember who said that, but I think recent market moves in oil and commodities have proved that!
There are obviously a few margin calls happening at the moment so market is pretty dismal.
I am so pleased that im not geared into this one, as I was in 2007, my memory of margin calls, even though they are nearly 10 years old are painful, you never recover from them!
I had a $250k one one day and similar the next!! no fun in that, when you get forced to sell good stocks at a bargain price!
I have no debt in the stock market at this time, so can just sit tight and tough it out.
Its interesting I bet there are plenty of property investors that have less than 30% equity in their total portfolio, but they don't get a margin call, and is it real equity anyway?
I think this is the big thing that is the elephant in the room, I have talked to the real estate agent and will sell all my current real estate with the intention of downsizing to realize some cash for the stock market, my thoughts are that this may well be a lifetime opportunity to get into the stock market!
can't sell my real estate quick enough to get in at these levels!
My beautiful bride is horrified of course, so it will no doubt be a compromise that i am unlikely to win!!
But im only an old farmer, what would I know about markets!
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