Sounds like success to me.
Printable View
Sounds like success to me.
It's very difficult to find a good fund manager, the better advice would be to buy a low cost index fund. That way you'll beat almost all fund managers.
Also, if you find a 'good' fund manager, likely they wont be good in the future. Often the best returns over the last 10 years mean the next 10 are poor.
Well done on the Pearl company, but is this investing or speculation? This is the reason for the difference in outlook. They are two very different things.
This is not just speculation, it's speculation in Australian microcaps. A notorious place where few emerge intact.
I understand what you're saying but the math still works.
My first purchase of Occidental Petroleum was in 2019 at $42. Second purchase was $46. But I made my money buying at $8-$12. Same with lots of other stuff, I made my money when after initial purchase the stock dropped 50% and more.
You shouldn't own equities unless you can react with total equanimity to a 50% fall in your total portfolio value. And unless you are selling when something races above intrinsic then it's just a feel good number in your account that can disappear at any time.
With Berkshire, if the stock drops 50% next week, then I will be far better off within 5 years - doesn't take a long time horizon.
Yes that is true.
Perhaps it is even too much, anyone I worked with or know that's say in their 30's 40's if it was known they had been provided a mortgage free home, everyone would lose respect for them massively. So in a way it doesn't give them a chance to stand on their own two feet.
Probably different in Auckland and for a chick it's maybe different but any dude would need to take a long hard look at himself before getting a house from Daddy if he wants to be able to stomach what he sees in the mirror.
I wouldn’t worry about telling people you were given a mortgage free home. They think the same if you’re mortgage free whether you earned it yourself or not in my experience.