Shares From $1m to $5.2 in 24 months

Good luck!

Cheers
Oracle

 

Ooh, I should mention that I'd call this the 'safe' route. Nothing wrong with that & may eventually take that route, but like I said above, I'm a daredevil. I never played it safe with property, I just held my breath & dived in. Then I kept on doing it. Have I made mistakes, hell yes, but have I done well, then yes again.

So, for now, this is my version of property......with shares. Will I make mistakes"? Absolutely! But I'm hoping to learn from those mistakes & make less of them as I go.

 

Shares are less forgiving than property and unlike property some shares never come back no matter how long you hold.

Secondly, being a daredevil is ok when you are young and have time on your side and much less to lose.

Just my 2cents.

But I am sure you know what you are doing

Cheers
Oracle

 

Sheesh, I don't know what I'm doing with property, if you ask some.

You sound like you think I'm betting it all on black.

There's a good mix, Banks which I've already said some have already been re-evaluated, EFT/LIC's and the above 4. Total of which is only a tiny portion of my overall portfolio, as I've still got numbers in double digits of properties.

Even if it turned to custard, I'd still be fine, so don't stress. Not planning on it turning to custard, which is why the foray into shares has been in small amounts.

 

Agree to disagree .. both shares and properties have risks.

I did not mean to lead the discussion of this thread that way so apologies.

@skater - good stuff. Most days I don't know what I am doing either. But just keeping an open mind that there are many paths to retirement and passive income. As I always say, I am not monogamous in terms of investing

 

Fair enough

For me I am betting it all on the black (shares) for my retirement hence talking from that perspective. I am sure your approach would be different if you had almost all your wealth tied up in shares for your retirement.

cheers
Oracle

 

Yes, there are risks in both, but if you don't take risks you don't grow.
Property has more than one path to success, and so, too, does shares.

At the end of the day, this forum is a tool for learning, and with it, hopefully, we can all gain success, but in saying that, we don't all have to 'do' the vehicle (property/shares) in the same way as each other to make this happen.

 

Even burying money or stashing it under your pillow has risks. Best bet is not to invest, and have no wealth. Can't be sued, can't be stolen.

 

That's why the bogans in Mt Druitt are laughing all the way to Centrelink.

 

Your son is a genius.

can I ask what platform do you and your son buy/ sell shares?

 

I'll ask about that, not sure, but he has gone from shares, to shares and options, now just CFDs. CFDs are a spectacular way to lose very big very fast, and I would warn anyone to stay clear until they feel they have been very successful in shares and then options.

Of interest his older brother about two years ago saw what he had been doing and went out and bought a stack of books, on charting etc, and invested all his savings (a modest $60K ) and to speed it up he leveraged it with some debt. We all warned him not to leverage and not to be too ambitious but as older brothers do, he thought if younger brother could do it so could he. After less than a year he was up 33% but there was a market hiccup and he hung on way too long and when he got out was down to $15K. Pretty common story that one.

I am an accountant by trade and have seen maybe over a hundred clients invest and never seen anything like it. Our super fund auditor told me last week he does a 150 super fund audits a year and has been doing it for years and never seen anyone make much at all. I have had a variety of Top End of town, investors as clients over the years, and you always see, companies you have never heard of, as they swap hot tips, around. Fast forward five years and they are usually valued at around 1-5c per share. Now of course that does not count the inside trading tips, which is often the only way these overpaid executives can make money.

Anyway I am on the ride.

Wish all investors luck, and remember, nothing beats research and the other side of the hill is not always greener.

 

Very cool story

 

a very interesting story and I'm glad it had a good ending .

 

Almost at $100USD :O Well done!

 

He operates through SAXO and he has gone from shares to options and now mainly CFDs. The good thing is he is now much more varied in companies and industries. Still almost exclusive US.

 

The insanity continues. He was $1.8m in around June 2019 and now has passed $30M (back down to $29M. Since June he has made close to $25M, around 450-500%. in eight months. The CEO of the Commbank does not make that. One deal he made $7m in around three months, my wife and I actually feel poor just watching him and our portion now sits between $7M & $8M. At one point we had combined $40M in our two super funds (and my wife and I still use our coffee cards) . Our super auditor next year will have a heart attack. Last year he had problems just looking at it. My wife and I have talked about a defibrillator. What our son does scares me to death at times and we have seen changes in him as well. He has lost some of his joyful humour, and maybe innocence. We used to joke about him getting a job as a fund manager, ... but he would have to work much harder more pressure and take a huge pay cut. At least his platform provider took him and his (client) manager out to lunch. Take care everyone and hope you all get where you are trying to go.

 

Wow that's insane, most of us here on PC have a net worth of $2-6M so $30M is next level.. well done!

 

That is insane. Well done to you and your son.

Does he have a plan to cut it back from scaling and just invest the money passively? i mean there's multiple options where he could live off that original $1m each and every year without even touching the capital?

When does it get too much?

Id love to replicate even 10% of what he has done.

 

Well I'll just see myself out then.

 

I feel totally useless after reading this. If I don't compose myself I'm gonna do something impulsive like put some money in Bitcoin.