When owning a bear, expect bad things to happen to your portfolio
Classic Bear Cycle textbook example being played out these last 18 months
Stage 3 Bear cycle (capitulation stage) is operating now.. methinks.
http://i458.photobucket.com/albums/q...R%20072016.png
A good day to make a little money and the day I made a lot of money - with smilies
I was fool enough to invest in Tower NZ a while back and came out a few months later with about a 20% loss :(.
I was fool enough today to have some fun Tiger Bouncing - similar to dead cat bouncing but I try and remain alive threw* out :t_up:.
So I bought at $1.10 & then $1.05 sold about half at $1.15 :)
and then when I got a bit concerned :mellow: I sold the other about half for which I also got $1.15 (ish) ;).
So I have made a 6.39% gross return on funds employed on the day, but in absolute terms it does make up a quarter of my prior losses :confused:.
As for Tower Australia - I remember it well - one of my successful investments :cool::
Dai-ichi bought it at out at $4.00 a share and I had an average buy price sub $2.00 and my last purchase at $2.00 was less about 7 months prior to the take over :ohmy:.
Best Wishes
Paper Tiger
*that is deliberate
Disc: No Towers or Tigers were harm during bouncing.