Moved to cash in Stock grumble portfolio, (longterm stocks in Superfund held) I have been way to focused on trading, worrying about whether Janet Yellen uses the word " patience" in her statement, I need to wake up to myself and find some good companies that are going to outperform the market.
So going back to fundamentals.
You should never vary from this, had a quick revision of Phillip Fishers Common stocks uncommon profits, great book with a very simple formula to make money in the market.
Why do I think im smarter than him!
The problem with our modern media is that we have too much of it, I need to ignore it and get on with the job, very annoyed with myself.
Just started reading an old book that goes back several centuries.
"Extraordinary Popular Delusions, and the Madness of Crowds", By Charles Mackay.
More on that to come, we as a species are really not that smart, and we need to be very aware of it!
Especially me!
Long term stocks in other portfolio still held, but its difficult to find value in anything that pays a dividend, and I still think we are running into some headwinds when the reality of very week commodity prices filters through to the rest of the Australian market.
So might just sit on some cash for a little while, sort my self out!
still think long term markets going higher, you cant survive on term deposits.
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