Peter Thornhill 2018

Have you got an MLT one (that should round out the big 5)

 

affirmative gho st rider... here you go.

 

Pretty sure I read they issued shares. One MLT for every $4.58 (or similar) of the unlisted fund.

 

I did post links to quite a few old ones on the Thornhill thread at one stage. Usually if you are creative with google you can dig up quite a few. Eg

"motivated money" "my say" no

 

I bookmarked all the ones i could find last year. Here's the list i've got. If anyone has any others, post them up.

My Say no 31
My Say no 35
My Say no 37
My Say no 38
My Say no 39
My Say no 42
My Say no 43
My Say no 44
My Say no 45
My Say no 46
My Say no 47
My Say no 48
My Say no 53
My Say no 54
My Say no 55
My Say no 56
My Say no 57

 

Thanks @RayO I found these also - lot's missing though

My Say no 29
My Say no 40
My Say no 49
My Say no 50

 

Great stuff @Redwing. I found one more now. Did a lot of clicking for this one haha.

My Say no 52

 

Why so interested in getting all of them? It’s always the same message. I’ve read them all over the years.

From memory prior to creating Motivated Money and writing the “My Says” he was in business with Super Expert Tony Negline and another guy found at this old site. Just search on Thornhill:

Financial planning Investment and Self Managed Super Fund Article

Here’s one article from AtcBiz in 2004 which shows Peter’s commitment to his strategy which is still the same today:

Article :: When Profit Becomes Boring

 

messages are more effective when repeated

 

Especially for Bogleheads reading Thornhill stuff. Sorry, couldn’t resist.

 

Even St Jack promotes dividends

 

@Nodrog when I first went onto his site I noticed that it didn’t let you go any further seeking out older issues. So I googled them then to seek them out and bookmarked it.
Your very lucky you’ve been reading them for years and we are lucky to have you sharing your wisdom with us too. But for me this is all new still, it isn’t even a year old for me. So I think I’ll be needing reminders regularly still.

 

Yes as I posted the other day Boglehead hero Jack Bogle is not all that different to Thornhill in regard to “shares for income”. It’s a fantastic article and worth posting here I think. It’s getting back to the true meaning of passive income. I can’t explain in words the incredible feeling that comes from watching the income from one’s investments grow and grow until it eventually replaces the income from having to work. Very very different compared to focusing on capital value which is all over the place and scares the hell out of you at times:

http://www.etf.com/publications/jou...egends-of-indexing-john-bogle.html?nopaging=1

 

And fair enough. It’s easy for me to forget what I was like back then. The more reinforcement the better. Plus you get to read that Peter T is prone to weaknesses that most of us investors experience at times. It’s great to know that even the most committed and experienced investors still experience behavioural issues at times and this somehow helps the reader gain insight and strength from this. From memory an example of this is found in his My Say “Do as I Say, Not as I Do”.

 

For newcomers here you might find this wonderful post from PC member and dividend focused investor @truong of interest. It might be of use in helping some here cope with staying the course when markets enter the fires of hell:

“At the time of the GFC I had been heavily into LICs for only a few years and hadn’t developed a strong belief yet, but I was saved by my extremely slow reaction temperament. I don’t get called a turtle for nothing… especially by people who are hares!

While the world was crashing around me and people I know were all panicking and selling left and right (and urging me to do the same) I was emotionally uninvolved and still trying to make up my mind on what to do. It was a very scary time but I tend not to make decisions if I don’t understand the consequences of it, and if a situation felt wrong I wouldn’t make a move until things cleared up a bit.

After the first wave of crashing SPs I looked at the situation and thought, could I survive with what I had left i.e. dividends maybe cut by 50%, rents maybe by 30%, my cash buffer and offset funds, also considering that IRs would probably go down. The answer was a resounding yes, so I sat on and watched.

I watched the crash for about another year, false upturns followed by deeper crashes, always checking to see if my cash flow was still manageable, and it was, easily. Dividends and rents hadn’t moved much by then and my cash buffer was still untouched.

After a while there was a sense of déjà vu and increasing confidence. I started to buy again, not at the bottom of the market because there was still a lot of confusion, but after prices had steadily moved up a notch. As usual I was true to my turtle reputation but I was still able to pick up quite a few LICs at bargain prices with my cash surplus.

My take from my GFC experience:

- Don’t look at prices, look at cash flow.
- You don’t need to be a share guru to survive a share market crash. In fact it may even help you not to be one: it removes you from the coal face.
- Property investors are naturally long term operators and generally super resilient due to their capacity for sacrifice. They have probably the best temperament to survive a share crash.

Not advice.”

Sign of the Times

 

Repetition is important to those of us new to long-term share investing strategies. These articles come at a time where it was good to remind me (albeit 25 times).
Every second article had a snippet, anecdote or example that is new and reinforces investment discipline and preparing for mentally handling volatility.

 

Never tired of reading this insight!

 

Come to think of it repetition also applies to many of us who have been at it a long time. From memory Thornhill has said his Financial Advisor keeps him out of trouble at times and his wife has also given him merry hell over the years for “fiddling” with their portfolios. I also still continue to do stupid things. So I now have my wife manage my behaviour to prevent “fiddling”. Any notable portfolio changes require her input and approval. It’s very easy to lose your way when enthusiasm combined with information, opinion, products galore and temptation is bombarding you 24 / 7.

Behavioural factors are a real demon. I was recently reading an advanced book on Retirement Portfolios by Zwecher who is very highly respected in the industry. But even he has a Financial Advisor manage his portfolio as per Zwecher’s own rules to remove the risk of behavioural factors interfering with the plan.

I know some consider me lacking in investing deep technical expertise but really it’s the big picture stuff, being able to deal with mental demons and sticking with a simple strategy through thick and thin that is most important to a successful outcome.

Given this is a Thornhill thread I repeat this taken from @Snowball ’s excellent blog:

Peter Thornhill on LICs, Dividend Investing and Other FAQ - Strong Money Australia %

And finally Thornhill’s advice to keep you out of trouble which from memory is roughly: “whenever you get the urge to sell / fiddle take two aspirin then lie down till the urge goes away”.

 

During a bit of downtime I copied and pasted all of the above Thornhill My Says into one word file - see attached.

 

ooopppsss...this website didn't like .docx files... I changed it to a pdf