Originally Posted by
Bobdn
Fair point Iceman but HNZ is a small percentage of my portfolio although, at 2-3%, not insignificant. I lost $3000 in 1987, all I had.
Thanks for the link Roger but too late for research. I thought I'd just trust a bunch of strangers on the internet and have a flutter. As Couta points out, one can be drawn in by what is said on these forums.
Janter, yes should have put it in the stock picks but my 5 picks are a reflection what I own most of.
KiwiGecko, no not trolling. I can just be impulsive sometimes and honestly I have thought long and hard about some stock purchases and it hasn't always worked out anyway. HNZ paid nice dividends and still seemed cheap when I bought it at 1.14. I liked the idea of owning a little bank like HNZ and a big Australian bank like ANZ which is 8% of my portfolio and which I bought at it's 52 week low last month and is now getting close to reaching it's 52 week high. But for me that's just good luck rather than management of course and who knows what's going to happen. All I knew is that the NZ dollar was high, ANZ seemed inexpensive, pays nice dividends, and offers some imputation credits. I'll tell you in 10 years how that investment worked out. In the meantime, I don't have to worry about death crosses, blue crosses, or gold crosses.
I should also point out that a big chunk of my investing is through managed funds e.g. Superlife and Devon Funds. These two companies offer me a lovely combination of active and passive investing and gives my portfolio much needed diversity. Devon's Alpha Fund has returned me 20% pa over the last few years. The most important thing about my managed funds is that the money is locked away and it restricts my love of impulse buying!