Market doldrums

[percy]

My portfolio down almost 20% in 2022 so far. Struggling with hindsight and no liquidating as i did in early 2020. The bear at the door is new territory for me

So far I am seeing excellent results from both my NZ and Aussie holdings.
I am expecting a poor result with my largest holding PAZ on Unlisted,however I will not be selling any shares,as their long term prospects are so exciting.

[Beagle]

The absolute paucity of liquidity in PAZ means people with a meaningful stake are stuck whether they like it or not !

That's a key risk that in my opinion is not talked about often enough in regard to investment on the unlisted market in general...that and the exceptionally weak disclosure requirements regarding half year "reporting" if you can even call it that.

You can ride it out no problem but sometimes in a quieter moment I wonder if other holders are really in as strong a position and are fully aware of the risks associated with very poor liquidity. I don't lose sleep over it though...everyone has to sign the unlisted application documents that they understand the extra risks involved so only have themselves to blame if they feel stuck.

[percy]

The absolute paucity of liquidity in PAZ means people with a meaningful stake are stuck whether they like it or not !

That['s a key risk that in my opinion is not talked about often enough in regard to investment on the unlisted market in general...that and the exceptionally weak disclosure requirements regarding half year "reporting" if you can even call it that.

All the large shareholders I have spoken with are happy holders.
I certainly am,being a shareholder since 2009..
The new Rolleston factory is progressing well ,and will be an asset NZ will be proud of,producing valuable export earnings.

Risk is people in business,private ,Unlisted or Listed.
PAZ is my largest holding as I know the people.They had a vision,and although it has taken time they are realising that vision.

PS My second largest holding is SFF Silver Fern Farms CoOp Ltd,which is also on unlisted.
Another company I am proud to be a shareholder of,which like PAZ earns valuable overseas currency.

[Cyclical]

I don't think many investors on here have ever experienced the long slow grind of a proper bear market where the bears claws get right under your skin and tear into the meat on you at any stage before.

I was expecting something like that towards the end of 2020 when everything shot up post March...I guess QE put a stop to that happening. Now QE is gone, and coupled with all those other headwinds as highlighted by Joshuatree, for sure we could be in for some tuff times on the market. Of course, our market went down last year, while the Nas and SP500 went nuts...

Anyway, greedy when fearful an' all that...

[Waltzing]

Market starting to bump up and down, mostly down...

Could be some nice buys ... unfortunately.

It always one crisis to the next ....

[percy]

I note the NZ Unlisted market has less volatility and is more stable than either NZX or ASX.
I guess Unlisted attracts more long term investors.

[Beagle]

More than 6,000 cases today and with Putin warning the West to not interfere in his war to rewrite history or there will be "consequences like you have never seen before" its clear a full scale invasion of Ukraine is underway with the overt threat of Nuclear war if the West gets involved. Seriously bad day, there's no way to sugar coat that and its not likely to get better anytime soon. Listed, unlisted NZX, ASX or any other bourse...I'm bloody glad I'm 70% plus in cash and short term deposits. With all the other headwinds JT clearly spelled out its clear at present the tide is going out at a very fast pace. Good time to sit on the beach and contemplate the meaning of life while we can still enjoy it.

[percy]

More than 6,000 cases today and with Putin warning the West to not interfere in his war to rewrite history or there will be "consequences like you have never seen before" its clear a full scale invasion of Ukraine is underway with the overt threat of Nuclear war if the West gets involved. Seriously bad day, there's no way to sugar coat that and its not likely to get better anytime soon. Listed, unlisted NZX, ASX or any other bourse...I'm bloody glad I'm 70% plus in cash and short term deposits. With all the other headwinds JT clearly spelled out its clear at present the tide is going out at a very fast pace. Good time to sit on the beach and contemplate the meaning of life while we can still enjoy it.

Although I enjoy sitting on the beach for half an hour or so I prefer my capital working 24/7.
Firms I am invested in;Silver Fern Farms,PAZ,Seeka,providing thousands of jobs for workers,and earning valuable export income.
Heartland providing capital for people to live a better lifestyle,new kitchen,car or hip replacement.Steel and Tube making sure the building industry has the steel they need to keep thousands in the sector working.Genesis providing power not just for my heat pump,but for so many businesses using power.Spark for phone and internet.
The market may have doldrums,but everyday the companies I invest in, over come all obstacles and thrive.
In fact they are doing so well they are paying me bigger dividends.

[winner69]

@G_T_Davies on Twitter …works at HHG
As we head into phase 3, the NZX is having its worse day since March 23 2020, which, coincidently was the first day I worked at home as we headed into the first lock down. Seems a lifetime ago.