wealthy investors vie for opportunities with n, page-9

Z, you have touched on three very interesting points.

1. My post was directed at your suggestion that a good strategy is to follow others who are rich.

I would not bet the house on it, but the reason I do that is because I know that it usually works.

2. Re: Spec shares defy reasonable analysis
It is not a calculated risk is you abandon analysis, it is a gamble just like going to the casino.

I don't abandon analysis, far from it. But I have learnt to research sentiment, psychology, and director names, much more than published accounts and statements, - which are lagging indicators. Of course its a gamble, but if you know who the directors are and their records, the odds are stacked in your favour.

3. Re: Your risk tolerance is apparently lower than mine
It is presumptuous of you to assume you know what my risk tolerance is. I invest primarily in stocks outside the ASX200 and usually those with little interest on HC. I rely on my own independent analysis and judgement, never blindly following someone else.

My assessment was based on the fact that you clearly indicate that WWM is too risky for you. That's your perogative. But it is within my risk profile, ergo.....