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Peter Thornhill

Discussion in 'Other Asset Classes' started by Redwing, 10th Apr, 2016.

  1. Hodor

    Hodor Well-Known Member

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    Good point.

    Think I will be fine, the next crash will be the first time my resolve will be tested with a decent (still relatively small I guess) sum of money in the market, also first time when I have had a clear plan. I would say I can't wait but I need ~3 years to get in a good position to take advantage.
     
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  2. austing

    austing Well-Known Member

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    Having read your posts for some time now i'm very confident you will be fine.

    Also note I said many not all:). The goal is for those of us here armed with a plan, knowledge and experience to be the ones that take advantage of crash opportunities rather than make bad mistakes based on fear and lack of knowledge;).

    Personally I want a crash just prior to 1 July 17 as that's when I have to move excess Super pension back into accumulation:).
     
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  3. austing

    austing Well-Known Member

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    Copied from another thread as it really belongs here:
    Your not alone mate. I've always struggled with my flaws but have improved over time. I suppose it's why I still read Peter Thornhill's stuff, communicate with him occasionally and post stuff here. It reinforces the simplicity of it all to me let alone others and minimises my chance of doing something stupid.

    In fact there's been the odd occasion with me when it's a case of "do as I say, not as I do". I break my own rules at times and nearly always regret it.

    Even Thornhill himself struggled with the same issue. Here's an article written by Peter when he was 60 where he admits to his weaknesses:

    DO AS I SAY; NOT AS I DO - MY SAY No 31
    13-08-2007

    Welcome - Motivated Money

    As the few snippets from the above article demonstrate perfection is definately not mandatory to succeed at investing:
     
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  4. austing

    austing Well-Known Member

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    Another old "My Say" I don't think I've posted before:
     
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  5. austing

    austing Well-Known Member

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  6. pippen

    pippen Well-Known Member

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    I could read these posts all day long!
     
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  7. austing

    austing Well-Known Member

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    And a few other older Thornhill "My says" all of which are great reading including those about his experience during the GFC:

    Issue 35
    Welcome - Motivated Money

    Issue 37
    Welcome - Motivated Money

    Issue 38
    Welcome - Motivated Money

    Issue 39
    Welcome - Motivated Money

    Issue 42
    Welcome - Motivated Money

    Issue 43
    Welcome - Motivated Money

    Issue 44
    Welcome - Motivated Money

    Issue 45
    Welcome - Motivated Money

    Issue 46
    Welcome - Motivated Money

    Issue 47
    Welcome - Motivated Money

    Issue 48
    Welcome - Motivated Money

    Issues 49 onward see here:
    Welcome - Motivated Money

    That should keep you busy for awhile:).
     
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  8. austing

    austing Well-Known Member

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    You just got your wish, see previous post:D.
     
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  9. pippen

    pippen Well-Known Member

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    Gee wiz im going to be a busy boy! Notetaking here we come!
     
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  10. austing

    austing Well-Known Member

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    Seeing you're so keen I've given you a search link (at the end of this post) to a pile of earlier articles by Peter I used to read at the time. They were aimed at the financial planning community and very popular. Peter eventually left this small business ATCBIZ to go out on his own as "Motivated Money" from memory.

    Here's a sample article which is a great read where he mentions his old mate from Perpetual who featured in the last chapter of "Motivated Money":
    Have a look at the following link and browse through the search result to find heaps more articles by Peter:

    All Things Considered Articles Library (enter Thornhill as search term)

    @pippen I expect a completed summary of every article written by Thornhill by tomorrow morning at the latest. Failure to do so will result in you failing to gain nomination for membership by me to "Dividend Investors Anonymous". Our club's motto is "show me the income or get stuffed"!
     
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  11. pippen

    pippen Well-Known Member

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    Ohh my! By tomorrow morning!?!? I may have to apply for an extension as well as head to office works and stock up on some more notepads and pens! Im running out of ink!

    Really really appreciate these links and posts as you dont have to go to the extremes which you do to help L plated investors!

    I still shake my head when i read that last chapter of motivated money in regards to that dog trainer chap who mentioned he likes to buy share parcels of 10,000 shares! Pretty unreal in addition to him mentioning having 100k in the bank as cash just in case and having to be ready!! Really love these old stories and seeing how wealth creation and accumulation can happen even on a mid range wage but only if you dont spend all that you earn, and you can save as well as borrowing less than you can afford!

    I may need help in summaries on all these links!

    People feel free to use my title in providing some summations!

    Would love membership to "Dividend Investors Anonymous"!
     
  12. austing

    austing Well-Known Member

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    That's after the old dog trainer mentioned in "Motivated Money" retired. We do similar in retirement by keeping a minimum of $150 - 200k cash in the SMSF for "just in case and having to be ready". Outside in the Family Trust a LOC against property, currently undrawn, is used (very conservatively) for same. After the "just in case" (eg market crash) happens and the buying frenzy is over, cash in the SMSF is once again accumulated for the next round. Occasional buying in the SMSF does happen in between though. In the Family Trust the LOC is repaid ASAP also ready for the next round. Very little buying happens in between in the case of leveraged investing outside of the SMSF. I don't like using leverage unless the opportunity is exceptional and the dividend is likely to cover interest expense, generously so as the market recovers.
     
    Last edited: 16th Jan, 2017
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  13. austing

    austing Well-Known Member

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    A great old article on LICs:
     
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  14. austing

    austing Well-Known Member

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    And as a final reading assignment for @pippen today the following article suggests Peter has harsh words for those of us who pay attention to LIC NTA. @pippen you will enjoy the following two articles as it answers your question from the other day about whether NTA really matters for the long term investor who buys regularly. In summary, NO it doesn't:
    And the unimportance of NTA is discussed further in Peter's article in this post:
    Peter Thornhill (When Profit Becomes Boring)
     
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  15. pippen

    pippen Well-Known Member

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    Ive been given more reading assignments in the past 3hours than 3 years of uni!

    Thanks so much for the links and posts will definately keep me going for a while!

    Cheers!
     
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  16. BingoMaster

    BingoMaster Well-Known Member

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    Haha I first used the term "income investors anonymous" as a joke to @austing to describe how excited i was getting by discovering the UK investment trusts. It was supposed to be a "confession", about how my "habit" of trawling for income LICs was getting out of control.

    But it seems it's now being used as some sort of badge of honour here?! Haha

    I will stick to my guns and say.... the first step forward advised by income investors anonymous is admitting that you have a problem! :p
     
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  17. austing

    austing Well-Known Member

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    He he, yes I knew @pippen was a good candidate for this exclusive club when he posted the following:
    His problem is so severe he could become Grandmaster of the club:D.

    So @BingoMaster, it's a yes from me. What about you?
     
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  18. pippen

    pippen Well-Known Member

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    Hi my name is @pippen, and im addicted to lic's! I need help!
     
  19. BingoMaster

    BingoMaster Well-Known Member

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    Of course it's a yes from me! Haha

    Now @pippen you should know, I believe @austing also invented a secret handshake (i've never seen it, whoops) and coined the club's law of - "Give me income, or get stuffed!"

    But the first step, as always, is admitting you have the problem! :p
     
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  20. BKRinvesting

    BKRinvesting Well-Known Member

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    Hmm seems I've got some work to do before submitting my own application. :eek:
    An "income investors anonymous" meet up would be fun...