IMHO the great thing about Australia despite all its faults is the fact that before the State can intervene it needs proper evidence and proof of our illegal behaviour. Sounds pompous when I put it on paper but you and I are the constant beneficiaries even if from time to time we may be victims of this freedom being abused by devious others.
As for swimming with sharks our chances today are far better than they were in the past thanks to technology. Quick true story. Very close now deceased relative was invested in Posiedon during the mining boom back in probably the seventies(?) when you had to trade through a broker and pay large commissions.
When he decided to sell it was near its peak and he attempted for two days to ring his broker to put in a sell order but the phones were constantly engaged. On the third day he travelled into Sydney to the brokers office only to find it locked and closed with a large box outside with a slot and instructions telling him (and others) to put their orders in the box.
Anyway by the time his order was acted upon the price had dropped to the point where he sold for an amount which allowed him to pay off his small mortgage and continue working for the next 25 years. Had he been able to sell when he had first decided he would have been able to retire on the spot.
By the way congratulations on making a profit!!! Much better than a letter I received from a liquidator of a mining company I had shares in that told me after all of the liabilities had been settled that there was just enough money to send a letter to each shareholder to tell them there was nothing left to pay out to shareholders. But don't worry there was enough money to pay the liquidator including for sending out the letters.
VLA Price at posting:
$1.69 Sentiment: Hold Disclosure: Held
